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Hurricanes Harvey and Irma are delaying freight across the Gulf Coast and Eastern Seaboard through port closures, rail delays and truck shortages. Dry bulk rates have roughly doubled since July, with the Baltic Dry Index rising from 820 to 1,296 by September 7.
Port closures and rail disruption raise freight costs and slow grain loadings, which can widen export basis, while strong dry-bulk rates lift ocean freight costs for grain exporters.
steelmarketupdate.comSandy WilliamsSep 10, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% 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.
