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Grain freight rates started trending up in early August, with Panamax US-to-China rates rising about 20% in a month to USD45/t by the end of August. The rise was driven by tonnage tightness in the North Atlantic and stronger chartering activity.
S&P Global warns of downside risk in late Q4 because many of the supports are seasonal and short-term.
Higher grain freight raises delivered costs for importers of US and Brazilian feed grains, and the seasonal nature of the strength points to possible easing later in the year.
spglobal.comSep 7, 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.
