News
Important Only
Cattle futures surge over US halt to Mexican cattle imports
By Kylie Madry and Heather Schlitz MEXICO CITY/CHICAGO, May 12 (Reuters) - U.S. cattle futures soared to record highs on Monday after Washington suspended cattle imports from Mexico over a flesh-eating parasite, which Mexican President Claudia Sheinbaum denounced as unfair. New World sc...Reuters
Mon, May 12
CBOT corn futures mixed after USDA report, tariff pause
CHICAGO, May 12 (Reuters) - Chicago Board of Trade corn futures were mixed on Monday after a pause in the U.S.-China trade standoff and a bullish U.S. Department of Agriculture report supported prices, though expectations of a large U.S. corn crop capped gains.U.S. farmers are planting more corn and...Reuters
Mon, May 12
US natgas prices drop 4% on rising output, lower flows to LNG export plants
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 3% over five-year normalBy Scott DiSavino May 12 (Reuters) - U.S. natural gas futures fell about 4% on Monday on a rise in output in recent days coupled with a decline in gas flows to liquefie...Reuters
Mon, May 12
US Cash Grains-Spot corn basis steady to lower, soybean basis unchanged
CHICAGO, May 12 (Reuters) - Spot basis bids for corn were steady to lower at U.S. Midwest processors and river terminals on Monday, while basis bids for soybeans were unchanged in a spot check of locations. The corn basis fell by 5 cents a bushel at a processor in Cedar Rapids, Iowa, and by 3 cents ...Reuters
Mon, May 12
Equinor says it could cancel New York offshore wind project over Trump order
May 12 (Reuters) - The developer of a major U.S. offshore wind project warned that it will cancel the Empire Wind facility off the coast of New York if it cannot reach a resolution over a stop-work order issued by the Trump administration in the coming days.Molly Morris, president of the U.S. renewa...Reuters
Mon, May 12
INSTANT VIEW-USDA sees larger US corn stockpiles in 2025/26
CHICAGO, May 12 (Reuters) - U.S. corn supplies are expected to rise in the coming year, although not as much as most analysts expected, while soybean supplies should tighten, the U.S. Department of Agriculture said on Monday. Highlights:* USDA...Reuters
Mon, May 12
GRAINS-Soybeans hit 3-month high on US-China trade deal, USDA report
Soybeans rise, corn mixed on USDA report and U.S.-China trade dealWheat hits contract lows on good U.S. harvest prospectsBy Heather Schlitz CHICAGO, May 12 (Reuters) - Chicago soybean futures notched a three-month high on Monday as a truce in the U.S.-China trade war and a bullish U.S. Department...Reuters
Mon, May 12
Pakistan finance minister: conflict with India won't have large fiscal impact
Pakistan-India clash had minimal fiscal impact, can be accommodated within current fiscal space-finance minister No need for new economic assessment-finmin$1 bln disbursement under the IMF's $7 bln bailout agreement to land tomorrowBudget talks with IMF scheduled from May 14-23-Aurangzeb confirm...Reuters
Mon, May 12
PRECIOUS-Gold falls 3% as US and China strike tariff deal
US CPI due on Tuesday Dollar, global shares soar after China-US trucePalladium down over 3% By Sarah Qureshi and Ashitha Shivaprasad May 12 (Reuters) - Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China ...Reuters
Mon, May 12
After leaders request, European Commission working on tougher Russia sanctions, France says
By John IrishPARIS, May 12 (Reuters) - France said on Monday that leaders at a meeting on Ukraine this weekend had asked the European Commission to put together new "massive" sanctions targeting Russia's oil and financial sector if Russia failed to agree a ceasefire.The EU is already wor...Reuters
Mon, May 12
Gold price plunges over $100 as US-China deal fuels USD rally
Gold prices tumbled over 3% on Monday, following improvements in risk appetite after weekend discussions between the US and China, which agreed to a 90-day tariff reduction. At the time of writing, the XAU/USD trades at $3,225, having hit a daily high of $3,326.
Fxstreet
Mon, May 12
Mexico expects early review of USMCA trade pact
By Aida Pelaez-FernandezMEXICO CITY, May 12 (Reuters) - Mexico expects a planned review of the trilateral trade pact with the U.S. and Canada to kick off ahead of schedule, the nation's economy minister said on Monday.The review of the USMCA trade agreement is set to begin in 2026, but Mexican E...Reuters
Mon, May 12
Pakistan finance minister: conflict with India won't have large fiscal impact
By Ariba Shahid and Charlotte GreenfieldKARACHI/ISLAMABAD, May 12 (Reuters) - The recent military escalation with arch-rival India won't have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment, Pakistan's Finance M...Reuters
Mon, May 12
Hong Kong's CK Hutchison assures legal compliance in ports deal
May 12 (Reuters) - Hong Kong's CK Hutchison 0001.HK said on Monday that its closely monitored ports deal would strictly adhere to all required compliance standards and would never be executed illegally."This transaction would never be carried out under any illegal or non-compliant circumstan...Reuters
Mon, May 12
Brazil's Lula courts trade ties in Beijing as China spars with Trump
Lula cheers $4.5 billion in upcoming Chinese investmentsBrazil seeks investments in rail, farm export infrastructureUS tariffs on China remain elevated even after Monday dealBy Lisandra Paraguassu and Eduardo Baptista BRASILIA, May 12 (Reuters) - Brazilian officials on Monday touted President...Reuters
Mon, May 12
METALS-Industrial metals prices buoyed by US-China trade deal
By Pratima Desai LONDON, May 12 (Reuters) - Industrial metals prices rose on Monday as growth and demand fears eased after China and the U.S. agreed a deal to reduce reciprocal import tariffs and seek an end to their trade war, though traders said the market remained cautious.Benchmark copper CMC...Reuters
Mon, May 12
Black Sea CPC Blend daily oil exports set to decline in May, sources say
MOSCOW, May 12 (Reuters) - Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) system were set at 1.5 million barrels per day (or about 6 million metric tons) for May, down from some 1.6 million barrels per day in April, two industry sources said. Kazakhstan's energy mi...Reuters
Mon, May 12
North Sea Crude-Several WTI offers don't find buyer
LONDON, May 12 (Reuters) - U.S. WTI Midland crude differentials weakened on Monday as once again several offers did not find a buyer, while North Sea Forties was steady.PLATTS WINDOWIndications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).* N...Reuters
Mon, May 12
Europe Gasoline/Naphtha-Gasoline refining margins rise further
LONDON, May 12 (Reuters) - Northwest European gasoline profit margins rose by about 60 cents to $16.45 a barrel on Monday.A total of 5,800 metric tons of Eurobob E5 barges traded in the Argus window on Monday, with Gunvor selling to BP and Shell.A further 8,000 tons of E10 barges traded on Monday, w...Reuters
Mon, May 12
Aramco executive says oil demand could see additional upside if tariff disputes are resolved
By Manya Saini and Hadeel Al Sayegh DUBAI, May 12 (Reuters) - Saudi oil giant Aramco 2222.SE, a longtime cash cow for the kingdom, expects oil demand to remain resilient this year and sees further upside if the U.S. and China successfully resolve their trade dispute.Washington and Beijing agreed ...Reuters
Mon, May 12
