Loading…
Freight rates in the Azov-Black Sea region began to fall in the eighth week, with wheat shipments from the Azov Sea to the Marmara Sea contracted at about $30 per ton. The decline reflects fleet returning to the Sea of Azov after weather improved, ahead of a Russian export fee on wheat that takes effect March 1 and on corn from March 15.
Falling freight reduces the cost of moving Black Sea grain, while the upcoming export fees may prompt a rush of shipments before the deadlines.
sealines.suFeb 24, 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.
