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Capesize spot rates are averaging about $12,712 per day as of November 27, well below the near $35,000 levels seen earlier. Panamaxes continue to benefit from strong grain demand, and the article cites China's economic recovery and Brazilian rain affecting loadings.
Sustained grain demand supporting panamax rates keeps ocean freight elevated for grain exporters, which can widen US Gulf and South American export costs for feed ingredients.
scceu.orgscceuNov 27, 2020Not 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.
