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US Biofuels Update: Soybeans, Soy Oil Dip Despite Rise in Crude

US Chicago Board of Trade August soybean futures slipped 0.11% in early trade on Friday to $11.76 per bushel.Soybean oil dipped 1.39% to 67.40 cents per pound despite a rise in crude oil prices which it sometimes substitutes in a blended form.Soybean export commitments now total 1.532 bb in 2025-26 and are down 18% from a year ago. That is ahead of USDA's estimated pace, even as USDA's estimate of US ending soybean stocks is 13% larger than the previous five-year average.NYMEX ethanol futures ended 0.26% lower on Thursday at $1.945, with traded volumes the highest in more than a week.

Commodities14d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Amazon Earnings Offset Apple Weakness

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.9% in Friday's premarket activity, as Amazon's (AMZN) stronger-than-expected earnings and continued demand for AI services outweighed weakness in Apple (AAPL) shares following its quarterly results.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1.1% before the start of regular trading.The quarterly US employment cost index rose by 0.9% in Q2, the same as in the previous quarter, the US Bureau of Labor Statistics reported on Friday.July's Chicago PMI report will be released at 9:45 am ET.The final University of Michigan consumer sentiment reading for July will be released at 10:00 am ET.In premarket action, bitcoin was down by 1.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated 2.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was down 0.03%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.3%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rose 2.5%. The VanEck Retail ETF (RTH) gained 1.2%, while the State Street SPDR S&P Retail ETF (XRT) was 0.3% higher.Amazon (AMZN) jumped more than 10% after the company posted higher Q2 results that beat analysts' estimates.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.4%, the Vanguard Health Care Index Fund (VHT) was down 0.5%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.4% lower.Novo Nordisk A/S (NVO) was down 8% premarket after the company said its ziltivekimab did not reduce major adverse cardiovascular events in people with atherosclerotic cardiovascular disease, chronic kidney disease and inflammation versus a placebo in a phase 3 trial.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.4%, the iShares US Technology ETF (IYW) was 0.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 4.5%, while the iShares Semiconductor ETF (SOXX) rose by 3.3%.Apple (AAPL) fell 7.5% pre-market Friday after the company reported lower-than-expected services revenue in fiscal Q3.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1%, the Vanguard Industrials Index Fund (VIS) gained 0.3%, and the iShares US Industrials ETF (IYJ) was flat.RBC Bearings (RBC) was up more than 1% before the opening bell after the company reported higher fiscal Q1 adjusted net income and net sales.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.01%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% higher.Arthur J. Gallagher (AJG) was down 4.4% even after the company reported higher Q2 adjusted earnings and revenue.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.5%.Chevron (CVX) was up 0.8% before the market open after the company reported higher Q2 results.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.1% to $85.32 per barrel on the New York Mercantile Exchange. Natural gas was up 1.5% to $2.80 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 1.8%, while the United States Natural Gas Fund (UNG) was 1% higher.Gold futures for November retreated by 1.2% to $4,112.80 an ounce on the Comex. Silver futures declined by 1.7% to $57.99 an ounce. SPDR Gold Shares (GLD) was down by 1.5%, and the iShares Silver Trust (SLV) fell by 2.5%.

Dow JonesNasdaq CompositeS&P 500$AAPL$AJG$AMZN$BETH$BITO$CVX$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$QQQ$RBC$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Commodities14d ago

Market Chatter: Italy Becomes Largest European Purchaser of LNG in July

Italy imported the largest volumes of liquefied natural gas among European countries in July, with government incentives encouraging traders to continue making purchases despite high prices, Bloomberg reported Friday.This is the first time Italy has emerged as the top LNG purchaser among European nations in any July month, the report said, citing ship-tracking data going back to 2017. The country's gas storage reserves are at 75% of capacity at the moment, the highest level among its peers.The Middle East conflict and the resulting supply disruption has almost doubled European gas prices this year, limiting LNG purchases despite the pressure to replenish inventories ahead of winter. Italy's decision to buy expensive gas could prove farsighted if tighter supply and high costs persist in winter.Winter gas contracts are trading below summer prices, discouraging stockpiling but Goldman Sachs has warned tight supplies could push prices to as high as 100 euros per megawatt-hour in December, about 75% above present levels, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities14d ago

OMV Q2 Hydrocarbon Output Declines Amid Middle East Conflict

Austrian integrated energy company OMV's hydrocarbon output fell by 4% year-on-year to 291,000 barrels of oil equivalent per day in Q2, compared with around 304,000 boe/d in the corresponding year-ago period, it said on Friday."This was mainly due to lower production volumes in the Middle East caused by the conflict in the region. Production was also affected by natural decline in Norway and New Zealand, while output in Libya improved significantly, supported by the increased production from new wells," its earnings statement said.For the quarter ended June 30, the company reported average crude oil and natural gas liquids production of 170,000 boe/d, down from 179,000 boe/d last year.Natural gas production for the quarter was reported at 121,000 boe/d, down from 125,000 boe/d in Q2 2025.Total hydrocarbon sales volumes for Q2 stood at 242,000 boe/d, compared with 276,000 boe/d in the year-ago period.In Q2, fuels and other sales volumes to Europe dropped to 4.14 million tons versus 4.20 million tons last year, while refinery utilization in the continent rose to 90% from 83% in Q2.For full year 2026, the company projects total hydrocarbon production in the range of 280,000-290,000 boe/d, depending on how events unfold in the Strait of Hormuz. This compares with total hydrocarbon output of 305,000 boe/d in 2025.The company projects utilization rate of the European refineries at above 90% in 2026, versus 89% last year.OMV expects Brent crude to average between $85-$95 a barrel this year versus $69 in 2025. Average realized gas price for the year is anticipated around 40 euros per megawatt-hour, which compares with the company's previous forecast range of between 35-40 euros/MWh and 30 euros/MWh in 2025.

Commodities14d ago

Wind Power Industry More Competitive as Cost Pressure Pile up, Wood Mackenzie Says

The outlook for wind power generation looks positive despite cost inflation that has weighed on the sector in recent years, analysts Wood Mackenzie said on Thursday.Winning tender bids have shown a declining trend in key European markets amid rising volumes and stronger competition, Wood Mackenzie's commentary said, putting pressure on suppliers to keep costs down to maintain margins and R&D investment, while remaining competitive in tenders.Reductions in turbine costs are likely this year and for the first time since 2020, Wood Mackenzie said.The overhauling of wind tender frameworks look set to restore investor confidence that was absent during failed 2024-25 tenders, with new designs to focus on contracts for difference or CfDs that move more risk from developers to governments over periods of 20 years or more.Tender activity looks intense for the 18 months ahead, testing the impact of those reforms.In China specifically, the government's Plan for Building a New Energy System sets out a goal of 50% wind and solar within the power energy mix by 2030, prompting a boom in offshore wind while offshore faces challenges, Wood Mackenzie said.Elsewhere, a backlog of repowering work is building up, with ageing and obsolete turbines awaiting replacement, but the high cost of such work has weakened the case for updating this equipment. It is accelerating however and raising average fleet efficiency as a result, Wood Mackenzie said.

Commodities14d ago

BP Launches Sale Process for UK North Sea Business Amid Portfolio Overhaul

BP (BP) said Friday that it has launched the process to market its business in the UK's North Sea for a potential sale, as part of its ongoing portfolio review and disciplined approach to capital allocation.The company's CEO, Meg O'Neill, noted that the company will remain committed to the UK, saying, "the UK has been our home for more than 100 years and will continue to play an important role in our future."She said that the North Sea remains "integral to the UK's energy system" while adding that as BP focuses capital on higher-return opportunities, the business would be "better positioned as part of another company."BP also reaffirmed its commitment to safety and reliability throughout the sales process, adding that it would continue to deliver for "customers, partners and stakeholders."The company's North Sea portfolio comprises five production hubs, two located in Central North Sea, and three to the west of Shetland. The business currently employs 1,100 people, out of nearly 14,000 employees who work for the company across the UK.

$BP

Commodities14d ago

Market Chatter: India's Reliance Boosts Diesel Shipments to Europe, Brazil Amid Tight Supplies

Amid record European diesel margins and depleted stockpiles, Reliance Industries significantly accelerated July fuel shipments from its Jamnagar complex to Europe and Brazil, Reuters reported Thursday citing ship-tracking data and sources.The surge in shipments follows a spike in European diesel profit margins, which hit a record $74 a barrel on Wednesday as regional stockpiles fell to their lowest levels since 2014 and Middle East escalation disrupted Gulf exports to Europe, according to the report.About 4-5 million barrels of industrial and transport fuel were loaded at the refiner's Jamnagar complex this month bound for Europe, the report noted.The company did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities14d ago

Asian Biofuels Update: Malaysian Palm Oil Futures Slip

Malaysian palm oil futures retreated on Friday as rival soybean oil weakened.The Bursa Malaysia Derivatives' August crude palm oil contract was trading 0.6% lower at 4,525 Malaysian ringgit ($1,107.17) per metric ton. The September contract fell 1% to 4,594 ringgit/mt.Indonesia is seeking to avoid US tariffs on its palm oil exports after the US imposed a 10% duty on nations it says make use of forced labor. The tariff currently applies to both Indonesia and Malaysia, major producers of palm oil.The developing El Nino weather trend is expected to have a negative impact on long-term yields.

Commodities14d ago

NWS Says Heatwave to Intensify in Southwest US, Expand to Intermountain West, Northern High Plains

The US National Weather Service on Friday said it expects a heatwave to intensify in the Southwest before peaking and spreading to the Intermountain West and northern High Plains over the weekend.The agency forecast severe thunderstorms and heavy rain to move from the Plains and Mississippi Valley towards Upper Midwest and mid-Mississippi Valley on Friday and further expects persistent monsoonal showers and flooding in the Desert Southwest.The NWS early Friday issued an extreme heat warning for St. George, Zion National Park, Escalante, Capitol Reef National Park, Moab, Green River, Ogden, Salt Lake City, Tooele, Provo, Hanksville and parts of Bluff and Blanding. The state primarily falls under the service area of PacifiCorp's Rocky Mountain Power.A similar warning was raised for Oklahoma's Bartlesville, Tulsa, Muskogee, McAlester, and parts of Oklahoma City. OGE Energy (OGE) subsidiary Oklahoma Gas & Electric and American Electric Power's (AEP) Public Service Co. of Oklahoma are the major service providers in Oklahoma.Affected areas in Arizona included: Yuma, Parker, Kingman, Bullhead City, Kingman, Ajo, Gila Bend, Phoenix, Wickenburg, Dateland, Prescott, Payson, Globe, Casa Grande, Tucson, Nogales, Sierra Vista, Bisbee, Page, Oracle, Oro Valley, Benson, Safford, Sells, Green Valley, and Grand Canyon Village.Arizona is primarily served by Pinnacle West Capital (PNW) unit Arizona Public Service Company, and UNS Energy subsidiaries Unisource and Tucson Electric Power.Also placed under an extreme heat warning watch were Tonopah, Beatty, Las Vegas, and Caliente in Nevada, which falls under the service area of Berkshire Hathaway Energy unit NV Energy.In California, an extreme heat warning was raised for Blythe, El Centro Imperial, Palm Springs, Twentynine Palms, Barstow, Baker, Death Valley, Barstow, Baker, Death Valley, Tehachapi, Bishop, Campo, El Cajon, Mount Laguna, Julian, Borrego Springs, Indio, Escondido, Temecula, San Clemente, San Bernardino, Hemet, Beaumont, Victorville, Anaheim, Ontario, Chino, Los Angeles, Santa Ana, Burbank, Palmdale, Riverside, Santa Clarita, Long Beach, Oxnard, Malibu, San Luis Obispo, Ridgecrest, Santa Maria, Paso Robles, Frazier Park and Edwards AFB.PG&E (PCG) subsidiary Pacific Gas and Electric, Edison International's (EIX) Southern California Edison, and Sempra Energy (SRE) unit San Diego Gas & Electric are the major electricity service providers in these places.Fort Smith in Arkansas was also covered under an extreme heat warning watch.The NWS issued flood warnings for South Dakota's Chamberlain, Sisseton, and areas near Aberdeen and Mobridge, while a flash flood warning was raised for places near Huron and Brookings. Northwestern Energy (NWE), MDU Resources (MDU) unit Montana-Dakota Utilities and Otter Tail's (OTTR) Otter Tail Power are among the major electric service providers in these places.Flood warnings were also raised for George West in Texas and Wheaton in Wisconsin.

$AEP$EIX$MDU$NWE$OGE$OTTR$PCG$PNW$SRE

Commodities14d ago

Ameren Reports Higher Q2 Electric Sales, Flat Natural Gas Volumes

Ameren (AEE) reported Q2 earnings Thursday, showing total electric sales of 16.210 terrawatt-hours for the quarter ended June 30, up from 15.672 TWh a year earlier.Total natural gas sales were 33 million dekatherms, unchanged from a year earlier. Ameren Illinois Natural Gas sold 29 million, down from 30 million, while Ameren Missouri sold 4 million dekatherms, up from 3 million.Ameren Missouri's total electricity sales increased to 8.549 TWh in Q2, up from 7.873 TWh a year earlier, as retail load rose to 7.358 TWh from 7.211 TWh and off-system sales climbed to 1.191 TWh from 0.662 TWh.Ameren Missouri residential electricity sales rose to 2.816 TWh from 2.812 TWh a year earlier, while commercial sales increased to 3.456 TWh from 3.349 TWh.Ameren Missouri industrial electricity sales increased to 1.074 TWh from 1.037 TWh in the corresponding quarter last year.Ameren Illinois Electric Distribution sold 7.661 TWh in the quarter, compared with 7.799 TWh a year earlier.Ameren Illinois residential electricity sales eased to 2.399 TWh from 2.435 TWh, while commercial sales slipped to 2.741 TWh from 2.758 TWh.Industrial electricity sales at Ameren Illinois Electric Distribution declined to 2.429 TWh for the quarter, down from 2.511 TWh in the year-ago period.

$AEE

Commodities14d ago

Edison International Q2 Advances Grid Hardening, Maintains Long-Term Growth Outlook

Edison International (EIX) reported Q2 earnings Thursday, highlighting continued progress on wildfire mitigation, grid hardening and its capital investment program.Southern California Edison has completed over 14,760 circuit miles of grid hardening, representing about 90% of its distribution system in high fire risk areas.The utility plans to complete roughly 970 additional circuit miles through 2028.The company expects to invest $38 billion to $41 billion between 2026 and 2030 to strengthen its regulated electric transmission and distribution system.The forecast through 2030 includes California Independent System Operator-awarded Federal Energy Regulatory Commission transmission projects with an additional $2 billion of such projects identified beyond 2030.The forecast also includes investments approved under Southern California Edison's 2025 General Rate Case, about half of its planned $3.1 billion advanced metering infrastructure program and its planned 2029 General Rate Case request.Beyond 2030, Edison International sees additional investment opportunities through its planned 2029 General Rate Case and the remaining half of its planned $3.1 billion advanced metering infrastructure program in 2031-2033.

$EIX

Commodities14d ago

US Natural Gas Update: Futures Gain on Smaller Than Expected Storage Build

US natural gas prices pared earlier gains in after-hours trading Thursday after government data showed a smaller-than-expected weekly storage increase, reinforcing expectations that the market balance is tightening.Both the front-month futures contract and the continuous contract rose 0.92% to settle at $2.747 per million British thermal units.The US Energy Information Administration reported that working gas in underground storage increased by 28 billion cubic feet in the week ended July 24, below analyst expectations for a build of roughly 37 Bcf. Total inventories climbed to 3,084 Bcf, leaving stocks 32 Bcf below year-ago levels but 185 Bcf above the five-year average of 2,899 Bcf.As of July 24, natural gas inventories were down 1.2% from a year earlier and 6.4% above the five-year seasonal average, indicating that supplies remain adequate despite recent market tightening.The Energy Buyers' Guide noted that Thursday's 28-Bcf storage build was the smallest injection of the season, reflecting a tighter market balance driven by persistent heat and elevated power-sector demand. However, the market has largely shrugged off the supportive weather backdrop, as robust production and lower LNG feedgas demand, caused by continued maintenance at Freeport LNG, continue to weigh on prices.Barchart, citing BNEF data, said US natural gas output rose by 0.3 Bcf on Thursday to 112.4 Bcf per day, and remained 2.9% above year-ago levels.Lower-48 natural gas demand stood at 81.6 Bcf/d on Thursday, down 0.6 Bcf from the previous day and 4.3% below year-ago levels. Celsius Energy estimated power burn at 48.3 Bcf on July 29, down 1.2 Bcf from the prior day and 5.6 Bcf below the same day last year.Looking ahead, the Commodity Weather Group said Thursday that above-normal temperatures are expected across the western half of the US through Aug. 13, potentially supporting regional cooling demand.Meanwhile, estimated LNG net flows to US LNG export terminals remained steady above 18 Bcf/d on Thursday. Aegis Hedging said Corpus Christi LNG received authorization to flow feedgas to Midscale Train 7. The train is expected to add roughly 186 million cubic feet per day of feedgas demand once fully operational. Commissioning began in late June, and nominations to Corpus Christi have increased by roughly 100 MMcf/d this week.

Commodities14d ago

Eversource Reaffirms Outlook, Highlights $26.5 Billion Infrastructure Investment Plan

Eversource Energy (ES) reported Q2 earnings Thursday, highlighting its long-term infrastructure growth strategy after completing the sale of Aquarion Water and reaffirming its outlook.The company plans to invest $26.5 billion between 2026 and 2030 across electric transmission, electric distribution, natural gas distribution, and information technology and facilities.Eversource also secured preliminary selection, alongside Avangrid, for an ISO New England transmission project with an estimated cost of $2.2 billion. The proposal targets service by the end of 2032 and carries an estimated 2.2x benefit-to-cost ratio, according to the company.The company completed the $1.7 billion sale of Aquarion Water on June 30, strengthening its balance sheet and sharpening its focus on regulated electric and natural gas delivery.Eversource highlighted the commercial operation date of Revolution Wind, a project it previously co-owned with Orsted before selling its stake to Global Infrastructure Partners in 2024, as an upcoming milestone. COD is expected by year-end.Eversource retains certain construction-related cost obligations tied to the project's completion.

$ES

Commodities14d ago

Portugal Reportedly Approves 33% Windfall Tax on Oil Firms' 2026 Excess Profits

Portugal's cabinet on Thursday approved a 33% windfall tax on extraordinary profits earned in 2026 by oil and refining companies that benefit from an energy price surge linked to the war in Iran, multiple news outlets reported on Thursday.The finance ministry reportedly said the levy would apply to the portion of companies' 2026 profits that exceeds by more than 20% the average profits recorded in 2024 and 2025, adding that the tax was justified as households and businesses faced sharply higher costs from rising fossil fuel prices, while oil and refining companies generated exceptional profits resulting solely from external market conditions.The proceeds are to help fund investments aimed at reducing dependence on fossil fuels and strengthening the economy's sustainability and resilience.The new levy will apply to all oil companies operating in Portugal, including Galp Energia, the country's largest integrated energy company.The measure will now be sent to parliament for final approval, where it is expected to receive backing from opposition parties, Reuters reported.The Portuguese Ministry of Finance did not immediately respond to a request for comment by.

Commodities14d ago

CFTC Plans to Add 2nd Weekly Commitment of Traders Report by Year-End

The chairman of the Commodity Futures Trading Commission on Wednesday said that the agency plans to release the Commitment of Traders Report twice a week by the end of the year.The announcement came during an Agricultural Advisory Committee meeting, which CFTC chairman Michael S. Selig reconvened for the first time in over two years.The COT Report is currently released once a week on Friday afternoons.Selig said the goal is to deregulate the commodities markets."It also includes promoting greater transparency in the commodity markets to facilitate fair competition. To start, I've directed the staff to begin circulating the Commitments of Traders Report on a bi-weekly basis, as opposed to the current once-weekly format. We hope to begin doing so by the end of the year," Selig said.Selig said that for years, federal agencies have layered regulations onto financial intermediaries serving the agricultural industry.In doing so, the agencies have often failed to ask the farmers, ranchers, or producers who depend on these markets whether the rules work for them, according to the CFTC press release.Selig also noted that many futures commission merchants, swap dealers and commodity trading advisors that serve agricultural producers are owned by banks subject to stringent capital requirements while also being regulated separately by the CFTC and the National Futures Association.The committee also discussed ways to make agricultural data available to market participants more quickly.Mary Catherine Cromley, a US Department of Agriculture staffer, told the committee a new acreage reporting system should be rolled out in the next few months."If you plant something in March and don't report it until July, it doesn't help a lot of people to know what's out there," Cromley said.During the meeting, Gabe Afolayan, vice president of soybean merchandising and trading at Cargill, asked if action could be taken so farmers can take more advantage of the biofuels market.Heather Manzano, of the USDA, said the agency is trying to make progress in the oilseeds sector."We have a couple of products that we have approved (in an effort to be more transparent and actuarial) along that route. Data is always a challenge for us, but it's core to our program. So, as we are able to get more data, we have every intention to grow in those areas," Manzano said.

Commodities14d ago

US Biofuels Update: Favorable Crop Weather Overrides Strong Sales to Pressure Soybean Complex

Biofuels feedstock futures closed lower on Thursday, with less threatening crop weather trumping strong weekly export sales.The Chicago Board of Trade August soybean futures contract closed 0.06% lower at $11.77 1/4 per bushel, while the CBOT August soybean oil futures contract settled 1.19% lower at 68.35 cents per pound.The Nymex September ethanol futures contract settled unchanged on Wednesday at $1.98 per gallon.Rhett Montgomery, a DTN analyst, said the soybean market fell for a second straight session in a quiet, mixed trade."Traders are displaying caution ahead of the rainfall slated to hit the soybean belt over the next 1-2 weeks, while prices simultaneously remain supported by a strong demand showing in July," Montgomery said.On Thursday, the US Department of Agriculture announced soybean sales of 132,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year.The USDA's Weekly Export Sales Report showed that for the week ending July 23, soybean sales totaled 11.1 million bushels, or 302,300 mt, for the 2025-26 marketing year, and an increase of 49 mb, or 1,333,200 mt, for 2026-27.Last week's export shipments of 18 mb were above the 16.4 mb needed each week to achieve USDA's export estimate of 1.520 bb in 2025-26.Soybean export commitments now total 1.532 bb in 2025-26 and are down 18% from a year ago. That is ahead of USDA's estimated pace, even as USDA's estimate of US ending soybean stocks is 13% larger than the previous five-year average.

Commodities14d ago

Southern Company Posts Higher Q2 Retail Electricity Sales on Data Center Boom

Southern Company (SO) reported Q2 earnings Thursday, showing a 2.3% year-to-date growth in total weather-normal retail electricity sales, the highest rate in two decades.The utility giant said that growth is underpinned by a rapid increase in energy demand from artificial intelligence and cloud computing infrastructure, with data center system load soaring to 1,219 megawatts in Q2 compared to 664 MW for the same quarter a year ago.Southern Company secured about 6 gigawatts of additional large load contracts since its Q1 call, bringing its total contracted portfolio to 17 GW across 31 projects. The utility firm said another 8 GW remain in late or finalizing stages, part of a prospective pipeline exceeding 75 GW.The company is constructing 10 GW of state-regulated generation resources to support demand growth, including natural gas, battery storage, solar, and transmission projects scheduled through 2030.The generation resources include 1.2 GW to be completed in 2026, with a further 2.8 GW projected for 2030.Price: $94.25, Change: $-1.80, Percent Change: -1.87%

$SO

Commodities15d ago

Bosphorus Emerges as Potential Flashpoint as Black Sea and Middle East Conflicts Converge, Kpler Says

The Bosphorus Strait is emerging as a potential new pressure point for global trade as military risks expand south through the Black Sea and north through the Eastern Mediterranean, Kpler analyst Michelle Brouhard said in a Thursday note.The convergence of the Russia-Ukraine war and the widening Middle East conflict could reshape commercial risk, energy flows, and the strategic importance of one of Europe's most vital maritime corridors.The recent expansion of hostilities beyond traditional conflict zones has increased pressure on interconnected shipping routes. Attacks on energy infrastructure near Egypt have extended military risk into the Eastern Mediterranean, while Ukraine's reported strike on a Russian vessel allegedly carrying military cargo linked to Iran highlights the growing overlap between regional security theaters.The Turkish Straits now sit between these two expanding areas of instability. The Dardanelles provide access from the Mediterranean, while the Bosphorus connects the Black Sea to global markets. Together, the waterways serve as a critical export route for Russian and Kazakh crude, Ukrainian grain, refined products, liquefied natural gas, and other commodities.Millions of barrels of energy products and other cargoes move monthly through the broader Bosphorus-Suez corridor, linking Black Sea suppliers with European and global markets.Unlike strategic chokepoints such as the Strait of Hormuz or Bab el-Mandeb, the Turkish Straits operate under the long-standing Montreux Convention, which provides a legal framework for commercial transit while granting Turkey authority over naval access during conflicts.Turkey's role has become increasingly significant as it balances its position as a NATO member, a key energy hub, and the administrator of a maritime corridor connecting two major geopolitical theaters.Commercial markets typically adjust before physical disruptions occur, with insurers, shipowners, and traders reassessing exposure through higher premiums, freight adjustments, and route changes.As military activity expands around the Black Sea and Eastern Mediterranean, the Bosphorus may increasingly be viewed not only as a reliable trade route but also as a corridor carrying a growing geopolitical risk premium.

Commodities15d ago

Exelon Q2 Operating Revenue, Expenses Rise

US utility company Exelon (EXC) on Thursday reported Q2 2026 operating revenue of $5.97 billion, up from $5.43 billion in the same period a year earlier.Operating expenses rose to $4.99 billion from $4.50 billion a year earlier.The company, which operates Commonwealth Edison, PECO Energy, Baltimore Gas and Electric and Pepco, said power and fuel expenses increased to $2.21 billion in the quarter from $1.90 billion a year earlier.Operating and maintenance expenses rose to $1.40 billion from $1.32 billion in the second quarter of 2025, while depreciation and amortization expense increased to $968 million from $902 million.Taxes other than income taxes totaled $423 million in the quarter, compared with $383 million in the year-earlier period.Exelon said it identified $12 billion to $17 billion in transmission opportunities beyond its current plan, with additional upside from competitive projects. Most of the opportunities are expected to materialize in 2030 and beyond, although some areas, including new business and competitive transmission, may require investment before 2030.The company expects transmission capital spending to total $6.68 billion from 2023 through 2026, increasing to $9.68 billion by the end of 2027, $12.6 billion by the end of 2028, and $16.3 billion by 2030.Price: $45.30, Change: $-1.74, Percent Change: -3.69%

$EXC

Commodities15d ago

Brookfield Infrastructure Q2 Highlights Growth Across Utilities, Transport, Data Businesses

Brookfield Infrastructure Partners (BIP) reported Q2 earnings Thursday, highlighting growth across its utilities, transport, midstream and data businesses, supported by capacity additions and new customer contracts.In Q2 2026, the company commissioned about 60 megawatts of contracted capacity across its global hyperscale data center portfolio and signed additional leases representing about 100 MW of capacity.Brookfield expanded its utilities business as the connections base at its UK regulated distribution operation grew 9% over the year.The company also signed an agreement to deploy about 500,000 smart meters in Australia over the next three years, a project expected to contribute about AU$25 million ($17.6 million) in annual EBITDA.Brookfield also renewed a 15-year agreement with one of the largest customers at its Canadian natural gas gathering and processing business, securing 10% of processing capacity under a long-term take-or-pay contract worth about $70 million in annual revenue.The company deployed about $1.2 billion of growth capital during the quarter to expand its utilities, transport, midstream and data businesses.Brookfield also expanded its partnership with Bloom Energy (BE) to $25 billion and increased total capital committed under the framework to $2 billion, with BIP's prospective share at about $80 million.Brookfield ended the quarter with about $1.4 billion of utilities projects scheduled for commissioning into rate base over the next two to three years, led by about $860 million at its UK regulated distribution business.The company also expects to commission about $835 million of transport projects and $237 million of midstream capacity expansion projects.Brookfield also approved two densification projects at existing US colocation data centers to support high-density computing and artificial intelligence workloads.Price: $42.84, Change: $+0.22, Percent Change: +0.52%

$BE$BIP

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Commodities14d ago