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Breakwave's February 9 weekly report says Capesize freight is gradually recovering after the Lunar New Year, with Brazil to North China rates above $20/t. China is taking steps to control iron ore prices and boost domestic mining output.
Russia has resumed shipments of wheat and barley to China after phytosanitary restrictions were eased.
Resumed Russian grain sales to China add to export flows and modestly ease feed grain supply, while firmer Capesize rates raise ocean freight costs for bulk commodities.
breakwaveadvisors.comSignal OceanFeb 9, 2022Not enough comparable past events yet for a historical read.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
