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Ocean freight rates are trending lower but remain well above the record lows of a year earlier, with the Baltic Dry Index at 702 points on 10 February. BIMCO expects oversupply to keep freight rates weak for January to April, though China's infrastructure spending may support rates later.
Lower ocean freight narrows the freight disadvantage for Canadian grain exporters against Australia and the Black Sea, which can improve their competitiveness. The shift is modest and mainly affects export basis and delivered prices.
grainews.caGFM Network NewsFeb 10, 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.
