Reading Time: < 1 minute MarketsFarm — Ocean freight rates have shown some strength over the past two months, with the Baltic Dry Index (BDI) at its highest level of the past year. The BDI, a major indicator of bulk shipping rates, settled at 2,058 points on Tuesday, marking the first close above 2,000 points since July 2022. The BDI […] Read more
Bulk ocean freight at highest level of past year
Container freight rates seen softening
Rail interswitching expansion pilot clears Parliament
Grain handlers to press for plan to be made permanent
Reading Time: 2 minutes Last week’s passage of the 2023 federal budget starts a 90-day countdown toward an 18-month test of expanded interswitching on railways in the three Prairie provinces. Bill C-47, the government’s budget implementation bill — which was first read April 20 in the House of Commons and got third reading in the Senate and royal assent […] Read more
Loss of Black Sea grain deal not seen as threat to global supplies, for now
Alternate routes exist but would be more expensive
Reading Time: 2 minutes Geneva | Reuters — The end of the Black Sea grain deal would not pose an immediate threat to the world market as Ukraine would still be able to export supplies, although at such a high cost that production in the war-torn country would likely fall even further. Turkey, Ukraine, Russia and the United Nations […] Read more
Railways push back on feds’ proposed interswitching revival
Railways also oppose ban on replacement workers
Reading Time: 3 minutes With Easter less than two weeks away, an Easter egg in the federal government’s 2023 budget calls for a new pilot program to again provide Prairie grain shippers with extended interswitching. Finance Minister Chrystia Freeland’s budget, released Tuesday, laid out a list of investments to “further strengthen Canada’s transportation systems and supply chain infrastructure.” A […] Read more
Argentina grains truck activity rebounds after strike lifted
Reading Time: < 1 minute Buenos Aires | Reuters — Argentine grains trucking activity has rebounded to near normal levels after a major strike last week, according to transport data and port sources, a relief to exporters in the world’s No. 1 shipper of processed soy and No. 2 for corn. Truckers agreed late last week to end a strike […] Read more
Baltic Dry Index hits 12-year high
Canadian grain exports slow either way
Reading Time: < 1 minute MarketsFarm — Strong demand to move cargo coupled with weather-related shipping constraints in a number of key corridors has helped take ocean freight rates to their highest levels in more than a decade. The Baltic Dry Index (BDI), a major indicator of shipping rates, settled Friday at 4,275 points, marking its highest level since November […] Read more
Ocean freight rates at decade highs
Reading Time: 2 minutes MarketsFarm — Ocean freight rates have climbed steadily higher over the past year, recovering from the lows hit at the start of the pandemic in early 2020 to see their highest levels in over a decade. The Baltic Dry Index (BDI), a major indicator of shipping rates, hit a high of 3,266 points on Wednesday. […] Read more
Baltic Dry Index at four-month lows
Declining demand seen from China
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have fallen off of their highs of the past year over the course of the past month, but remain well above the lows hit in the spring when global markets first started reacting to the COVID-19 pandemic. The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved […] Read more
Ocean freight rate index moving higher
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have shown steady gains over the past month, rising to some of their highest levels of 2020 as world economies show signs of recovery amid the COVID-19 pandemic. The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved higher for 12 straight sessions, hitting 973 points on […] Read more
Feed weekly outlook: Softening barley market to stabilize
Reading Time: < 1 minute MarketsFarm — Feed barley bids in Western Canada have softened over the past few weeks, but should stabilize as the spring approaches. “I don’t think there’s a lot of potential to push this thing much higher, and I don’t think the bottom will fall out either. What you see is what you get,” Matt Froehlich, […] Read more
A message from April Stewart, Country Guide's Associate Editor
