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UkrAgroConsult reports that demand for grain transportation fell on all major routes, forcing ship owners to cut freight rates amid scarce cargo. Activity weakened in South America and the Far East, while Handysize rates in the Black Sea slipped more slowly.
Trading was expected to slow further through the Easter holidays.
Lower freight costs reduce delivered prices for feed grains imported by buyers, while weaker shipping demand signals softer export flows from South America and the Black Sea.
world-grain.comHolly Demaree-SaddlerApr 13, 2017Not enough comparable past events yet for a historical read.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), 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.
