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The Baltic Dry Index closed at 2,590 points on November 3 after the bulk market weakened in the first week of November. Capesize rates fell as iron ore exports from Western Australia dropped 10% week on week and Brazilian loadings slipped 1%.
Panamax and Supramax markets also softened on lower Brazilian and US grain export volumes.
Weaker dry bulk demand for grain and iron ore pushes freight costs lower, easing landed costs for imported feed grains. Brazilian and US grain export declines reduce cargo flows that support Panamax and Supramax rates.
Not 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.
