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Dry-bulk freight tried to rally early in the week of September 17 but retreated by the close, with the paper market better supported than physical. October Panamax rates fell $400 to $12,400/day.
The US Gulf grain vessel lineup reached an eight-year high of 68 boats scheduled, and Chinese buyers have requested delays to some sorghum shipments.
A large Gulf vessel lineup during harvest tends to pressure ocean freight, while Chinese sorghum delays could reduce near-term US sorghum export demand.
grains.orgSep 17, 2020grains.orgSep 17, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
