Loading…
Dry-bulk freight markets were described as soft in the week, with Panamax availability tightening in the North Atlantic and East Mediterranean. Sellers were chasing bids lower.
Black Sea wheat backhaul to Brazil was creating cheap return rates for soybean and corn shipments to the Mediterranean.
Cheap backhaul and softer ocean freight lower the delivered cost of South American soybeans and corn into Europe, which can weigh on feed import values.
grains.orgJul 23, 2020grains.orgJul 23, 2020Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
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.
