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The Baltic Dry Index reached 1,333 points on Tuesday, its highest level in two years and about 500 points above a month earlier. The index is well above its record low of 290 set in February 2016.
Commodity News Service Canada notes that rising freight rates weigh on Canadian grain competitiveness because of distance to Asian and European markets.
Higher ocean freight raises landed costs for grain and oilseed exports, especially from distant origins such as Canada and the U.S. Pacific Northwest. This can support basis and freight-linked spreads while shifting trade toward closer Black Sea and South American supply.
grainews.caGFM Network NewsMar 28, 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.
