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Grain shipping rates are stabilizing at higher levels as Indian iron ore exports recover, which is absorbing panamax, supramax and handymax vessel capacity. Drewry expects India's iron ore exports to exceed 40 million tonnes this year, with peak demand in the third quarter when grain exports also rise.
Competition for smaller bulk vessels from iron ore keeps grain freight costs elevated, raising the delivered cost of grain imports for feed buyers.
world-grain.comMichael KingAug 3, 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.
