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The Baltic Dry Index settled at 2,011 points on July 16, its highest since January 2014, and the Panamax index reached 2,052. Demand from Brazilian iron ore shipments pulled larger panamax vessels, which are often used for grain, into tighter markets.
Rising panamax rates raise the cost of shipping grain and oilseeds from origin to buyers, which can widen export basis and weigh on competitiveness for Canadian and other distant origins.
grainews.caGFM Network NewsJul 16, 2019Not enough comparable past events yet for a historical read.
After 137 past bearish logistics events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.0%), and +0.0% over 20.
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.
