Tanker freight fell 3.14 percent to 669.89 dollars in the site market tables and is down 29.44 percent on the week, extending the deflation in crude tanker earnings as Hormuz transit recovers and the risk premium unwinds. Dry bulk freight moved the other way, up 3.25 percent to 13.02 dollars and up 4.41 percent on the week.
Canadian lumber production rose 4.0 percent from July to 3,674.0 thousand cubic metres in August, Statistics Canada said, though output was still down 3.8 percent year on year. Shipments were 3,599.2 thousand cubic metres. The monthly recovery leaves Canadian mills producing below last year’s level into the North American housing season’s end.
US natural gas rose 1.9 percent to 3.00 dollars per million British thermal units in the site tables, up 3.62 percent on the week, the firmest energy print of the day as crude fell. Copper was nearly flat at 6.24 dollars a pound, down 0.07 percent on the day and down 3.31 percent on the week.
Grains were mixed and quiet. Wheat fell 1.29 percent to 591.5 cents a bushel, corn rose 0.17 percent to 440.8 cents and soybeans rose 0.83 percent to 1,190.8 cents, with no new USDA print in this window to move the complex ahead of the November 10 WASDE.