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S&P Global expects Atlantic supramax dry bulk rates to lag in Q4 2020 despite strong US grain exports. Trade tensions between China and the US and a below-expected European and southern Russian wheat harvest are weighing on the outlook.
Weaker expected Q4 freight rates lower the cost of moving grain on Atlantic routes, but a poor European and Russian wheat crop supports grain prices.
spglobal.comSam EckettSep 18, 2020Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
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.
