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The Baltic Dry Index fell for 13 straight sessions to 453 points, its lowest level in four years. The capesize index went negative as coronavirus lockdowns in China cut demand for iron ore, coal and steel.
Weak Chinese demand is pushing dry bulk freight rates lower, which reduces ocean freight costs for grain and oilseed cargoes. A falling index also signals softer global trade activity.
grainews.caMarketsFarm Team, GFM Network NewsFeb 4, 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.
