Commodities (Crude Oil & Copper) & Macro Outlook

According to the USDA, the U.S. wheat ending inventory is projected at 722 million bushels, below the USDA's previous estimate of 744 million bushels and slightly above analyst expectations of 718.36 million bushels.

According to the U.S. Department of Agriculture, the nation's cotton ending inventory is projected at 4.1 million bales, exceeding analyst expectations of 3.77 million bales. The upward revision reflects changes in supply and demand forecasts for the current

According to the U.S. Department of Agriculture, the projected end-of-year corn inventory stands at 1.79 billion bushels, down from the USDA's previous estimate of 1.96 billion bushels. Market analysts had anticipated 1.9855 billion bushels, placing the USDA's latest forecast below both prior

According to USDA, the U.S. soybean ending stocks are forecast at 310 million bushels on July 10, compared to analyst expectations of 321 million bushels.

According to Jin10, ADNOC Logistics & Services, the logistics subsidiary of Abu Dhabi National Oil Company, ordered 4 new-generation liquefied natural gas tankers from Shanghai Jiangnan Shipyard on July 10 for approximately $900 million. Each vessel has a capacity of 175,000 cubic meters, with

Cocoa futures fell sharply today across major exchanges. New York cocoa futures (ICE) dropped nearly 10% to $5,836 per ton, while London cocoa futures (ICE) declined nearly 10% to £4,327 per ton.

According to the International Energy Agency (IEA), escalation of the U.S.-Iran conflict could threaten the anticipated oil supply surplus in 2027, with global crude prices maintaining volatile trading patterns overnight. The agency's warning underscores growing geopolitical risks to the energy

According to Coceral, the European grain trade association cut its soft wheat production forecast for 2026 to 104.8 million tons on July 10, down from 143.7 million tons estimated in June, citing extreme heat across Europe. The association also lowered its corn production forecast to 52.7 million to

According to QCP Capital's latest analysis published today (July 10), Bitcoin recovered toward the $64,000 level, supported by a sharp decline in Japanese government bond yields. A proposal encouraging Japan's Government Pension Investment Fund to increase domestic investments contributed to a

According to Odaily, Shanghai has launched its first batch of colored metal blockchain digital warehouse receipts on the newly activated "CangDengChain," a blockchain network built on the national "HangmaoDeng" infrastructure. The receipts are issued by China National Materials Storage and

Oil prices fell short-term today, with WTI crude sliding to $71.70 per barrel and Brent crude to $76.31 per barrel, down around $1 each. The decline coincides with reports that a Qatari representative has arrived in Iran to conduct emergency mediation

According to Guru Club, Brent crude oil broke through $77 per barrel on July 10, gaining 0.93% intraday.

The Commodity Futures Trading Commission stayed a self-certified CME crude oil futures contract on July 9 that would have allowed around-the-clock trading as soon as July 10. The CFTC said CME filed to self-certify the contract on July 8 despite an active public comment process on 24/7 futures tradi

According to Spain's National Gas Company, in June, liquefied natural gas (LNG) accounted for 50.7% of gas imports while pipeline gas represented 49.3%, achieving near-equal split between the two supply

According to Spain's national gas company, the country's natural gas imports in June reached 25,954 gigawatt-hours, down 6.1% compared to 27,628 gigawatt-hours in June of the previous year.

According to the Commodity Futures Trading Commission, on July 9, CFTC issued a stay blocking CME's 24/7 crude oil futures contract scheduled to launch on July 10. The agency said CME filed to self-certify the contract on July 8 despite an active public comment process opened by CFTC on June 22

According to Polymarket official data, the Perp section generated $48.43 million in trading volume within 24 hours of launch on July 9-10. The top three trading pairs were ETH-USD ($9.79M), BTC-USD ($7.51M), and SILVER-USD ($5.87M).

According to the Korea Ministry of Climate and Energy, the ministry signed agreements on July 10 with nine energy companies to launch an energy storage system (ESS) project for distribution grids, aiming to address renewable energy curtailment and interconnection issues in southern Korea and Jeju. The government plans to invest 558.6 billion won by 2030. Selected companies, including LG Energy Solution, SK E&S, and HD Hyundai Electric, will deploy 128 MW of ESS capacity across 32 distribution li

According to South Korea’s Ministry of Climate and Energy, on July 10 the ministry signed agreements with nine energy companies to launch a distribution grid energy storage system (ESS) project, aiming to address renewable energy curtailment and interconnection issues in South Korea and Jeju. The government plans to invest 558.6 billion won by 2030. Selected companies, including LG Energy Solution, SK E&S, and HD Hyundai Electric, will deploy 128 MW of ESS capacity across 32 distribution lines,

According to Gelonghui, Chinese commodity futures declined in early trading on July 10. SC crude oil dropped more than 3%, coking coal fell nearly 3%, and pure benzene and coking coal decreased by over 2%. On the gainers’ side, Shanghai silver rose more than 3%, and wood pulp and Shanghai tin increased by over 2%. It also facilitated the connection of an additional 1 gigawatt of renewable energy. {currencycard:future}(X