Today's Commodities Pulse
Lower‑48 gas producers expand output despite storage surplus
U.S. lower‑48 natural‑gas operators are adding production capacity even though storage inventories remain in surplus, according to NGI. At the same time, spot prices are climbing as summer temperatures rise and LNG demand increases.
Also developing:
By the numbers: M Battery Materials acquires graphite assets for $20M
Consus Ag Consulting AM Market Brief
Futures opened the week on headline‑driven volatility as a rejected Middle East peace proposal redirected risk‑averse capital into energy, indirectly supporting agricultural contracts. Energy flow through the straits remains uncertain, keeping markets skeptical of any war‑related commentary. Meanwhile, the upcoming Trump‑Xi trade meeting has dampened expectations for renewed Chinese grain purchases. The Kansas wheat tour and the May WASDE report, which is expected to show steep U.S. grain‑stock declines and a steady soybean outlook, are set to dominate ag market focus.
Copper Prices Now Riding on US Stock Market
Copper Heavily Reliant on a Rising Stock Market Copper appears increasingly dependent on the US stock market to keep going up for the metal not to go down. My graphic featuring the per-pound price of copper on the same scale as...
Corn Set for Second-Half Price Pressure, Consumers Benefit
Corn, Like Crude, Faces 2H Price Pressure Similar to crude oil, the US is the largest producer of corn and a net exporter, while prices have bounced in 1H and domestic supplies are ample. The recipe benefits consumers, not prices. Full report...
Presentation on Recent Trends in Electricity Markets
The author presented a three‑part analysis of European electricity markets, focusing first on the rapid expansion of solar generation and battery storage. The second segment examined how these renewables are reshaping day‑ahead market pricing, pushing prices lower and altering the...
Oil Prices Jump 2.4% as Hormuz Closure Fuels Global Supply‑Chain Shock
Brent crude surged 2.4% to $103.76 a barrel after the United States and Iran failed to secure a cease‑fire deal, leaving the Strait of Hormuz largely shut. The closure is driving a cascade of supply‑chain disruptions across oil, food and...
Oil Market Broken: Unprecedented Shock, Bias, Possible Insider Trading
The oil market is broken, I told @Bloomberg TV. - Oil market players are in uncharted territory -- a supply shock of this duration and magnitude is unprecedented - There is an optimism bias, no doubt fuelled by misdirection ("imminent deal")...
Iran Ceasefire Tested as Drone Sets Cargo Ship Aflame Off Qatar, Raising Gulf Shipping Risks
A drone strike ignited a cargo ship 23 nautical miles northeast of Doha, prompting the UAE and Kuwait to shoot down additional drones. The incident underscores the fragility of the month‑old Iran‑U.S. ceasefire and threatens oil flow through the Strait...
China's CPI Jumps to 1.2% in April, Fueling Yuan Weakness
China's National Bureau of Statistics reported that consumer price inflation accelerated to 1.2% in April, outpacing expectations and pushing factory‑gate inflation to a 45‑month high. The data has heightened market worries that the People's Bank of China may tighten policy,...
Oil Jumps Over 4% After Trump Rejects Iran Cease‑Fire Proposal, Asian Markets Stumble
President Donald Trump called Iran's cease‑fire response "totally unacceptable," sending Brent crude up more than 4% to over $110 a barrel. The move reignited fears about the Strait of Hormuz, pushed WTI to $95, and rattled Asian stock markets, which...
Wheat Prices Mixed Across Regions and Soybean Markets Relatively Quiet Amid Chinese Holiday
European wheat futures slipped, pulling spot premiums lower while physical premiums held steady across France, Germany and the Baltics. Australian wheat remained firm, with assessments climbing to $277 per tonne amid dry conditions in New South Wales and Queensland. In...
Oil Traders Adding Back Supply Risk Premium
Oil prices jumped over 3% on May 10, with Brent climbing to about $104.50 a barrel as traders re‑added a supply‑risk premium following President Donald Trump’s dismissal of Iran’s peace overture. The comment revived concerns over the Strait of Hormuz, a...
Gold Daily Call for May 11th, 2026
Gold opened on May 11, 2026 with a gap down and is now testing support around $4,650‑$4,660 per ounce. The 4‑hour stochastic indicator is edging into oversold territory, suggesting a possible short‑term bounce toward the 50‑day moving average rather than...
Iran War Day 73: Trump and Tehran Clash over Latest Peace Proposals
U.S. President Donald Trump rejected Iran's latest peace proposal, calling it totally unacceptable, as the 73‑day U.S.-Israel war on Iran drags on. Tehran’s offer called for ending the naval blockade, lifting sanctions and preserving its nuclear and foreign‑policy autonomy, which...
Gold: A Volatile Path Towards a New Base. WisdomTree’s Forecasts Through to the First Quarter of 2027
WisdomTree’s latest outlook projects gold moving toward a higher equilibrium by Q1 2027, but with sustained volatility. The metal spiked to a record $5,600 per ounce in January 2026 before plunging to $4,100, while quarterly demand jumped 74% YoY to $193 bn. New...
CIL’s Coal Auction Volumes Dip 6% in April
State‑owned Coal India Ltd (CIL) offered 30.5 million tonnes of coal through its Single Window Mode Agnostic (SWMA) auction in April, a 6 percent drop from March’s 32.5 MT. The decline occurs as West Asian geopolitical tensions push power plants to lean on...
Gold Buying Prices in Zimbabwe per Gram/ Ounce, 11 May 2026
On May 11, 2026 Fidelity Gold Refinery (FGR) released its official buying prices for gold in Zimbabwe, detailing rates by purity and transaction size. The top tier (90% + purity) commands $139.79 per gram ($4,347.65 per ounce), while the fire‑assay cash...
Partner Insight: No Disruption to the Post - Covid Commodities Boom
The commodities cycle is now in its mid‑phase, propelled by capital investment as demand for strategic metals surges from electrification, renewable energy, electric vehicles and data‑centre expansion. Supply deficits persist because new mining projects won’t deliver significant output until around...
Hong Kong Plans to Revive Gold Futures Amid Rising Demand
Hong Kong Exchanges and Clearing is set to revive gold futures trading within the next few months, responding to surging demand from mainland China and broader Asian markets. The government will back the relaunch with a new clearing system and...
Gold Demand Climbs as Top Miners Post Record Q1 Earnings>
Gold demand grew 2% YoY in Q1 2026, reaching 1,231 tonnes and a $193 billion value, driven by central bank buying and strong bar and coin purchases. Central banks added 244 tonnes, a 3% increase, while Asian investors pushed bar and...
Feeder Cattle Market: Optimism Builds Back After Price Slide
Feeder cattle prices on the Darling Downs slipped to 440‑450 c/kg, suggesting the market may be reaching the bottom of its current cycle as seasonal supply eases and rain approaches central Australia. Angus feeder steers remain resilient, trading around 520‑530 c/kg, outpacing...
SMA Says Overcapacity Remains a Threat
The Steel Manufacturers Association (SMA) testified before USTR investigators, urging the use of Section 301 tariffs to combat global steel overcapacity that threatens U.S. jobs and competition. SMA highlighted that China’s excess capacity exceeds U.S. steel output by more than eight...
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Iraq Drops Out of Thai Rice Market Due to Hormuz Blockage
Thailand's rice exports to Iraq have stopped completely for three months after the war in the Middle East blocked the Strait of Hormuz. Iraq, previously Thailand's largest rice market at 80‑90 000 tonnes per month, now receives no shipments. The disruption...
Australia’s March Canola Exports Down 37pc From Feb
Australian canola exports dropped sharply in March 2026, falling 37% to 558,780 tonnes versus February’s 881,777 tonnes. The decline reflects the closure of the Persian Gulf due to the Iran‑US conflict, which eliminated shipments to the United Arab Emirates—zero tonnes...
Durian Prices Tumble in China as Faster Deliveries From Southeast Asia Boost Supply
Durian, once a luxury fruit in China, has seen its wholesale price plunge as faster cold‑chain rail and sea routes from Southeast Asia boost supply. In Kunming, Thailand’s Monthong durians now sell for 28 yuan per kilogram (about $4), a drop...
Italy’s Edison Expects Two-Thirds of LNG Supply From Qatar to Be Delivered Shortly After Any Peace Deal
Edison, QatarEnergy’s biggest Italian customer, said it will receive roughly two‑thirds of its contracted LNG volumes within 30‑45 days after any peace agreement between the United States, Israel and Iran. The company has already seen 12 cargoes cancelled, though eight...
The Winners and Losers of the Iran Energy Shock
The closure of the Strait of Hormuz in March choked roughly 20% of global oil and LNG flows, triggering national energy emergencies and sharp price spikes. Countries heavily dependent on imported fuels, from the Philippines to Zambia, scrambled for emergency...
Iron Ore Climbs as Steady China Demand Offsets Supply Risks
Iron ore prices surged to $111.90 a ton in Singapore, the highest level since October 2024, after climbing as much as 1.3% on the day. The rally marks the sixth gain in seven trading sessions, driven by solid steel production...
Silver Leads as Gold‑Silver Ratio Tightens to 57.9
Good morning China; The gold-silver ratio compressed this morning (57.9) as #silver led the precious metals sector during the Asian hours
Gas Dominates European Power Prices, Driving Higher Costs
Where gas sets prices, prices are higher. r = 0.91 across European electricity markets. Italy & UK: gas sets prices 75-80% of hours, avg €90-115/MWh. Finland: 15% of hours, €42/MWh. More in next newsletter on whether renewables mean lower prices: https://t.co/In5lBaF2ox https://t.co/NWmfk3NfQh
Season Finish, Input Costs See Demand Firm for Quality Country
Australia’s grain output remains above average, but a 10% drop in northern NSW production and soft commodity prices are tightening grower margins. Rising diesel, petrol and fertiliser costs, together with higher interest rates, are pressuring profitability across the southeast. Despite...
Oil Cargo Prices Plunge as Buyers Retreat
MUST READ: The cost of a real-world oil cargo is dropping fast as buyers back away. The sharp retreat provides a counterintuitive backdrop to warnings the oil market is barreling toward a crisis point. Still, traders cautioned the calm may be...
China's Infrastructure Push Fuels Iron Ore Rally
1/4 Bloomberg: "Iron ore rose as signs of solid Chinese demand offset concerns over rising supply" No surprise here. China needed to boost infrastructure investment sharply, and this had to be good for related commodities. https://t.co/xLQ6XURUTD
The World Is Burning Through Oil With No Resupply in Sight. Is SHEL Stock a Buy Before the Squeeze Gets...
The ongoing Middle East conflict has shut the Strait of Hormuz, leaving the world short about 1 billion barrels of oil and driving prices higher. Shell (SHEL) CEO Wael Sawan and peers at Chevron and ExxonMobil warn the imbalance will persist...
Price Controls Trigger Gas Station Closures, Shortages
Tragic but predictable: South Korea imposed communist-style price controls on gasoline… and gas stations started closing. Shortages incoming. Price controls never work
China's Steel Exports Dip to 2023 Low After 2025 Record
Chinese exported a record quantity of steel in 2025, which annoyed a lot of its trade partners. That pace has slowed somewhat this year. Year to date it's at the lowest level since 2023 (although still the fourth highest on...
ASEAN Leaders Issue Joint Action Plan as Oil Prices Surge, Growth Forecast Cut to 4.5%
At the 48th ASEAN Summit in the Philippines, leaders adopted a joint response to the Middle East energy shock, announcing coordinated measures to secure oil supplies and cutting the 2026 growth forecast for six core economies to 4.5% from 4.8%....
Brent Surges 4%, Threatening Global Economy Amid Geopolitical Tensions
Brent up over 4% Mon morning >$105. I see a Pakistan request in the works... or maybe it will be Qatar now. I see a Trump TACO coming. But seriously, this has gone beyond ridiculous now and dangerously damaging to the global...
Eurozone Inflation Hits 3% as Oil Prices Surge, Pressuring Stock Valuations
Eurostat reported that inflation in the 21 euro‑area countries rose to 3.0% in April, up from 2.6% in March, as energy prices jumped 10.9% amid the Iran‑related oil shock. The surge threatens to tighten monetary policy expectations and compress valuation...
The Commodities Feed: Oil Surges as Peace Deal Hopes Fade
Oil prices surged after President Trump dismissed Iran’s latest peace‑plan proposal, underscoring the market’s sensitivity to geopolitical headlines. In April, China’s crude oil imports fell 20% year‑on‑year to 9.4 million barrels per day, the lowest level since mid‑2022, while natural‑gas imports...
Crude Oil Prices Jump 4% on US-Iran Peace Talks Failure; Brent Crude Near $104 per Barrel
Oil prices surged on May 11 after the United States and Iran failed to reach a Washington‑backed peace deal, reigniting concerns over the Strait of Hormuz. Brent crude rose 3.1% to $104.47 a barrel, while U.S. WTI jumped 4.1% to...
Oil Climbs as Netanyahu and Trump Remarks Stoke Worries over Rising Middle East Tensions
Oil prices surged on Monday after Israeli Prime Minister Benjamin Netanyahu warned that the conflict with Iran was "not over," and U.S. President Donald Trump rejected Iran's cease‑fire proposal. West Texas Intermediate rose 3.08% to $95.42 a barrel, while Brent...
Nat Gas Shows Higher Low, Inverted H&S Forming
Nat gas - what do we have here: First higher low on the dailies and potential for an inverted head and shoulders. Rumor is that folks going to be running those ACs full blast in the midwest the...
Corn Rebounds; Post‑flush Rally May Become Sustainable
Corn start of another daily swing up after a long liquidation flush. After these flushes a more sustainable rally can take hold. https://t.co/gUHutZKqay
U.S. Rare‑Earth Push Targets Africa to Cut China’s Grip
The U.S. International Development Finance Corporation announced a $2 billion portfolio focused on sub‑Saharan rare‑earth projects, pairing early‑stage grants from the USTDA with large‑scale financing. The move seeks to build African processing capacity and blunt China’s hold on the critical‑minerals supply...
Gold Jumps 1.8% as Strait of Hormuz Tensions Ignite Safe‑Haven Demand
Gold surged 1.83% this week, with the price of 10 g 24‑carat bullion reaching ₹1,51,078 (≈ $610) in India. The rally was driven by renewed clashes between US and Iranian forces near the Strait of Hormuz, outweighing a robust US jobs report...
What Drives the Price of Gold Up and Down?
Gold is trading around $4,700 per ounce in May 2026, still about 16% below its January peak of $5,600. Analysts are split, with some projecting a climb to $6,000 by year‑end while others advise caution. The metal’s price is shaped by...
Gold Falls on Renewed Inflation Concerns
Gold futures settled virtually unchanged at $4,718.70, slipping 0.04%, as renewed inflation concerns dampened demand for the traditional safe‑haven metal. In contrast, silver surged 6.3% to $85.49 per ounce, marking its biggest one‑day gain since February and highlighting a shift...
Jim Cramer Sends Message to Investors on Popular Safe Haven Asset
Jim Cramer told CNBC viewers on May 7 that he is not bullish on gold, echoing veteran trader Larry Williams’ forecast of further declines. Gold has slipped 13% this year, trading around $4,867 per ounce after peaking at $5,589 in late January....
Natural Rubber Prices Soar on Iran Tensions, Boosting Asian Suppliers
Natural rubber prices have surged to their highest level in nine years as the United States’ war with Iran pushes manufacturers toward the latex‑based material over oil‑derived synthetic rubber. The price spike, estimated at roughly 30% year‑over‑year, is boosting revenues...
Oil Jumps as Hormuz Stays Shut After Trump Rebuffs Iran’s Offer
Oil prices surged after President Donald Trump dismissed Iran's latest peace proposal, keeping the Strait of Hormuz effectively shut. Brent crude jumped up to 4.5% to $105.80 a barrel, while West Texas Intermediate hovered near $100. The rejection highlights escalating...