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The Baltic Exchange's main sea freight index rose 3.4% to 1,928 on July 15, its highest since January 2014, led by capesize demand for Brazilian iron ore. The panamax index also hit its highest since December 2013 as iron ore shippers booked panamax ships.
Higher dry bulk freight rates raise the cost of moving grain on panamax vessels, which can weigh on export competitiveness and widen the gap between farm-gate and delivered prices.
gcaptain.comReutersJul 15, 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.
