# World sea freight rate rises may be good news for domestic grains sector | Farm Online | ACT

> The Baltic Dry Index posted its largest ever weekly gain of 68.5 percent, closing at a six-month high of 1,555 points. The index has risen almost 300 percent from its May 14 low of 393 points after coronavirus lockdowns halted trade. The rally was driven by a revival in Chinese iron ore demand and rising Brazilian iron ore exports.

- Date: 2020-06-23 · published 2020-06-23T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52538-world-sea-freight-rate-rises-may-be-good-news-for-domestic-grains-sector-farm
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

A sharp rise in dry bulk rates increases the cost of moving grains and oilseeds by sea, which can narrow origin price spreads and lift delivered feed ingredient costs.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/6802819/australian-grain-may-be-more-competitive-in-asia-as-global-shipping-costs-rally/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.