Dry bulk markets were quiet this week with the bullish momentum of the past few weeks fading and allowing values to slip lower. September is usually a lackluster month for freight markets as shippers await the North American grain harvest. The lack of Chinese buying of American soybeans is notable this year and PNW vessel lineups are sharply reduced and export demand is badly needed. The PNW/Gulf export spreads are trying hard to incentivize movement from the PNW. On a C&F basis, corn offers from the PNW (including FOB prices and ocean freight rates) are $30/MT cheaper than the Gulf at present, which is the largest difference since late 2023.  Jay O’Neil is reporting that the Bangladesh wheat trade from the Texas Gulf was fi...

TAGS – Asia, Europe, North America, Freight