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Dry bulk freight for sugar from Santos to China reached $64.50/mt, the highest weekly assessment since June 2010, after a 27% rise since early June. Higher freight has led some traders to postpone shipments and store sugar forward.
The rally has also narrowed the Brazilian sugar cash premium.
Dry bulk freight is rising sharply, which lifts the delivered cost of bulk grains and meals as well as sugar. Sustained freight strength would reinforce higher landed costs for feed importers.
spglobal.comJul 20, 2021Not 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.
