News
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Brazil beef-packers estimate $1 billion in losses if US tariffs apply
By Ana ManoSAO PAULO, July 29 (Reuters) - Brazilian beef-packers' lobby Abiec, which represents companies including JBS JBSS3.SA and Marfrig MRFG3.SA, on Tuesday estimated losses of $1 billion if the United States applies a 50% tariff on Brazilian exports.The U.S. is Brazil's second biggest ...Reuters
Tue, Jul 29
Foreign oil companies in Venezuela await US authorizations, sources say
Maduro said a new permit for Chevron would come PDVSA readies future cargo deliveries, but tankers have not returnedUS supports Venezuela's 'restoration of democratic order,' Secretary Rubio said By Marianna Parraga and Sheila Dang HOUSTON, July 29 (Reuters) - About a half dozen fore...Reuters
Tue, Jul 29
Gold ticks up with all eyes on US-China talks, Fed meeting
Fed likely to leave rates unchanged on WednesdayBullion hit its lowest level in nearly three weeks on MondayBy Sherin Elizabeth Varghese July 29 (Reuters) - Gold prices edged higher on Tuesday as investors awaited the outcome of U.S.-China trade talks and the Federal Reserve's policy meeting....Reuters
Tue, Jul 29
Brazil beef-packers estimate $1 bln in losses if U.S. tariffs apply
SAO PAULO, July 29 (Reuters) - Brazilian beef-packers' lobby Abiec, which represents companies including JBS JBSS3.SA and Marfrig MRFG3.SA, on Tuesday estimated losses of $1 billion if the United States applies a 50% tariff on Brazilian exports.The U.S. is Brazil's second biggest beef export...Reuters
Tue, Jul 29
Canada says Australia has re-opened market access for beef and beef products
OTTAWA, July 29 (Reuters) - Australia has lifted a 22-year-old ban on the import of Canadian beef and beef products, the Canadian Food Inspection Agency said in a statement on Tuesday.Australia imposed import restrictions on Canadian beef in 2003, following the discovery of Canada's first domest...Reuters
Tue, Jul 29
GRAINS-US corn, soy futures hit two-week lows on milder weather forecasts
By Julie Ingwersen CHICAGO, July 29 (Reuters) - Chicago corn and soybean futures fell on Tuesday for a third straight session as forecasts for cooler Midwest temperatures this week and continued periodic rains reinforced expectations for ample U.S. harvests, analysts said. Wheat futures ...Reuters
Tue, Jul 29
Dannon parent sues Chobani over cold brew coffee slogan, packaging
By Jonathan Stempel NEW YORK, July 29 (Reuters) - The maker of Dannon yogurt sued rival Chobani on Tuesday for allegedly copying its "Bright & Mellow" slogan and yellow-and-black packaging for a competing line of ready-to-drink cold brew coffee.Danone DANO.PA said Chobani engaged in &...Reuters
Tue, Jul 29
US Cash Grains-Corn basis steady to lower at river terminals, ethanol plants
CHICAGO, July 29 (Reuters) - Basis bids for corn were steady to weaker at ethanol plants and river terminals in a spot check of facilities in the U.S. Midwest on Tuesday as corn and soy futures fell. The corn basis fell at a river terminal in Davenport, Iowa, and an ethanol plant in Annawan, Illinoi...Reuters
Tue, Jul 29
US oil refining trade group challenges Trump biofuel, tariff policies in letter
AFPM letter highlights split between oil producers and refinersAFPM criticizes EPA's handling of small refiner waiversRefiners face rising costs from EPA's biofuel blending rulesBy Jarrett Renshaw and Stephanie KellyJuly 29 (Reuters) - A leading U.S. oil refining trade group has sent a lette...Reuters
Tue, Jul 29
Fitch Says U.S. Corporate Capital Spending To Remain Elevated Through 2026
July 29 (Reuters) - Fitch: FITCH: U.S. CORPORATE CAPITAL SPENDING TO REMAIN ELEVATED THROUGH 2026 DUE TO AI AND RISING ENERGY DEMANDFITCH ON US CORPORATE CAPITAL SPENDING: RENEWABLE ENERGY DEVELOPERS LIKELY TO ACCELERATE EXISTING PROJECTS TO QUALIFY FOR TAX CREDITSFITCH: EXPECTS NEGATIVE FREE CASH F...Reuters
Tue, Jul 29
EXCLUSIVE-Shippers ask to end contracts with Russian-backed refiner Nayara, sources say
India's Seven Islands, GESCO seek release of ships, sources sayNayara trims refinery runs on storage constraints, sources sayHPCL diverts vessel from Vadinar to Mangalore, sources sayIndia is top importer of seaborne Russian crudeBy Nidhi Verma and Mohi Narayan NEW DELHI, July 29 (Reuters) - ...Reuters
Tue, Jul 29
Europe Gasoline/Naphtha-Gasoline profit margins edge up
LONDON, July 29 (Reuters) - Northwest European gasoline profit margins gained about 19 cents to $11.61 a barrel on Tuesday. A total of 4,000 metric tons of Eurobob E5 gasoline barges traded, with Trafigura selling to Aramco.An additional 4,000 tons of Eurobob E10 barges traded as Gunvor sold to Traf...Reuters
Tue, Jul 29
METALS-US trade talks weigh on copper and trim COMEX premium
By Polina Devitt LONDON, July 29 (Reuters) - Copper prices were little changed on Tuesday as traders awaited the outcome of U.S. trade talks with Chile and China for clarity on a U.S. plan to impose a 50% import tariff on the metal from Friday.The three-month copper contract CMCU3 on the London M...Reuters
Tue, Jul 29
North Sea Crude-WTI Midland weakens
LONDON, July 29 (Reuters) - U.S. WTI Midland crude differentials weakened on Tuesday while there was no activity on North Sea grades. PLATTS WINDOW* Indications are free on board (FOB) unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).* WTI Midland: Total bou...Reuters
Tue, Jul 29
EXPLAINER-Union Pacific deal to buy US rail rival faces lengthy review
WASHINGTON, July 29 (Reuters) - Union Pacific's UNP.N proposed purchase of smaller rival rail operator Norfolk Southern NSC.N will need to be approved by the Surface Transportation Board in Washington, an independent federal agency that oversees competition and other areas of importance in the r...Reuters
Tue, Jul 29
Weak euro cushions fall for European wheat prices
PARIS/HAMBURG, July 29 (Reuters) - European wheat dropped more than 1% on Tuesday, tracking a fall in U.S. markets, but a weaker euro against the dollar following a trade agreement between the European Union and the United States helped to cushion the decline, traders said.Benchmark September millin...Reuters
Tue, Jul 29
UPS profit lower than expected as US trade policy shifts
UPS did not provide full-year revenue and margin forecastsQ2 revenue beats estimates, profit marginally missesInternational strength offsets weak US performanceBy Abhinav Parmar and Lisa Baertlein July 29 (Reuters) - United Parcel Service UPS.N posted quarterly profit marginally below estimates o...Reuters
Tue, Jul 29
South Africa says US pushback against domestic race policies complicating trade deal
JOHANNESBURG, July 29 (Reuters) - A top South African diplomat said on Tuesday that U.S. demands on domestic affirmative action policies were complicating efforts to secure a trade deal, days before a 30% tariff on South African exports to the U.S. takes effect. South Africa has tried for m...Reuters
Tue, Jul 29
Freeport LNG's Texas plant back in operation Tuesday, data shows
HOUSTON, July 29 (Reuters) - Freeport LNG said on Tuesday that all three trains at its facility in Texas are operating, after data from financial firm LSEG showed reduced throughput since Saturday.The Freeport LNG facility on Quintana Island is the third largest LNG plant in the U.S. and has suffere...Reuters
Tue, Jul 29
