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The Baltic Exchange's main dry bulk index rose 4.4% to 2,378 on August 30, its highest since November 2010, led by capesize demand. The panamax index reached 2,260, its highest in over 8.5 years, with panamax daily earnings near $18,098.
Strong panamax earnings signal tight dry bulk capacity for grain and oilseed cargoes, lifting ocean freight costs that feed into landed prices for imported feed ingredients.
marinelink.comAug 30, 2019Not 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.
