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The Baltic Dry Index fell 7.2% to 1,540 on January 27, its lowest since January 7, as capesize rates dropped 14.1% to 2,145. The decline reflected softer demand in the Atlantic and Pacific and easing congestion in China, while the supramax index rose to a late-2019 peak.
Lower capesize and panamax rates reduce near-term ocean freight costs for bulk feed ingredients, though the supramax strength shows the drop is segment-specific.
scceu.orgJan 29, 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.
