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The U.S. Grains Council market perspectives report for August 19, 2021 notes a sharp rally in dry bulk freight, with the Capesize index topping 45,000 after Vale booked September iron ore vessels from Brazil. Panamax FFA for September reached $37,000 before easing.
Container freight remained weak amid COVID-19 port concerns in China.
Strong dry bulk freight raises the cost of moving grain and meal exports, supporting landed feed prices while container markets stay weak.
grains.orgAug 19, 2021grains.orgAug 19, 2021Not enough comparable past events yet for a historical read.
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.
