By Daily Crux Editor Brian Hunt:

A potential danger for the recent commodity rally: The Baltic Dry Index – a widely used gauge of shipping activity – is turning down.

As the global economy goes, so goes the BDI. It runs higher when things are going well. It sinks when things aren't going well.

As this short opinion piece details, there are signs things aren't going well. The BDI is well off its June high… there are anecdotal reports of shipping misery. More weakness here spells rough times ahead for commodity prices.

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