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The Baltic Dry Index posted its largest-ever weekly gain, rising 68.5% to close at a six-month high of 1555 points. The rise was driven by a revival in Chinese iron ore demand and higher Brazilian iron ore exports, with the index up almost 300% from its May low.
Higher dry-bulk freight rates raise the cost of shipping grain and oilseeds, which can narrow export margins and lift delivered feed costs.
scceu.orgJul 3, 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.
