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The Baltic Dry Index settled at 1,355 points on September 11, its highest since November 2014, after gaining about 500 points over two months. Strength was led by capesize vessels on Chinese coal and iron ore demand, and Bimco expects dry bulk supply to grow 2.7% in 2017 against roughly 3.5% demand growth.
Sustained freight strength raises shipping costs for grain exports, particularly for Canada and other distant origins facing freight disadvantages, which supports delivered feed grain prices in Asia and Europe.
grainews.caGFM Network NewsSep 12, 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.
