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The U.S. Grains Council market perspectives report says dry-bulk freight rates were higher for the week but weakened at week's end. Panamax daily hire rates fell to $22,500/day for April from a high of $25,500/day, and the Evergreen ship blocking the Suez Canal was the most discussed topic.
Dry-bulk freight that is retreating from highs lowers the cost of moving grain, which supports export competitiveness for US origin. The inverted forward curve signals expectations that freight will ease further.
grains.orgMar 25, 2021grains.orgMar 25, 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.
