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Dry-bulk ocean freight rallied again this week on record Chinese soybean imports, large Chinese iron ore imports, record Russian wheat exports from the Black Sea and good new-crop US grain exports. The consultant expects vessel rates to correct downward after harvest, into early 2018.
Firm freight raises landed costs for grain and oilseed buyers in Asia and favors shippers covering near-term needs. The expected correction after harvest suggests buyers may find cheaper freight in the first quarter of 2018.
grains.orgOct 19, 2017grains.orgOct 19, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
