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Capesize dry-bulk earnings recorded a second consecutive daily record increase as the Baltic Dry Index jumped 23% in one day. Brokers said the physical market remains strong while the futures market appears to have already peaked.
Sharp spikes in capesize rates push up ocean freight costs for bulk grains and oilseeds, raising delivered feed costs. Brokers' view that futures have peaked suggests the premium may fade.
tradewindsnews.comHolly BirkettJun 18, 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.
