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Dry bulk freight rates have stabilized after a sharp rise, with the Baltic Dry Index declining for the first time in nearly two weeks after reaching a 3.5-year high the prior week. Average Panamax earnings held near US$11,750 daily, and Handysize rates on a Brazil-Morocco fixture eased.
Higher ocean freight raises the landed cost of US and South American feed grains and meal into importing markets, narrowing export competitiveness; the pullback slightly eases that pressure.
bmti-report.comBen PerrySep 27, 2017Not 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.
