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The Baltic Dry Index closed June 30 at 1,799 points, up 350% over the prior 30 days, driven mainly by Capesize ore shipments to China. Panamax time charter rates rose 67% over the same period, and port congestion is tightening vessel supply.
Rising Panamax and Supramax rates raise the cost of moving US and South American grain and meal to Asian buyers, supporting higher delivered feed ingredient prices.
czapp.comJames BrittainJul 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.
