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The Baltic index slipped 2% to 1,516 points on Thursday as capesize and panamax demand weakened. Clarksons Platou said Brazilian soybean exports are winding down while US exports should rise, but Chinese purchases of US soybeans have fallen due to tariffs, cutting panamax demand.
Reduced Chinese demand for US soybeans lowers panamax demand and freight rates, signalling weaker ocean freight costs for grain shipments and softer export economics.
marinelink.comOct 25, 2018Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
