The Baltic Dry Index Has Exploded Higher And The Silence From The Bears Is Deafening

The Business Insider ^ | 8-23-2010 | Vincent Fernando, CFA

[familyop]

Yep, foods, especially, went up. We’re safe. ;-)

[sbMKE]

I’m afraid I’m not following.

Russia is either 1) short on grain due to fires and drought, or 2)they’ve decided to punt on making money off exports or 3) are involved in a conspiracy to drive up worldwide shipping prices.

I’ll vote #1.

There is some good news here because the U.S. will pick up a lot of the export slack created by Russian decision and because of weak crops by traditional exporters Canada.