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Gold rises as Fed minutes signal 2025 cuts, US yields retreat
Gold price registers decent gains on Wednesday as US Treasury yields recede, even though the Greenback trades solidly against its peers. Trade developments continued to dictate the market’s direction, while the latest minutes indicate that officials are still considering a rate cut in 2025.
Fxstreet
Wed, Jul 9
CANADA-CRUDE-Discount on Western Canada Select narrows
July 9 (Reuters) - The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures CLc1 narrowed on Wednesday.WCS for August delivery in Hardisty, Alberta, was trading at $10.15 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to $...Reuters
Wed, Jul 9
APA curtails US natgas and NGL production in second quarter on weak prices
July 9 (Reuters) - APA Corp APA.O said on Wednesday it curtailed about 10 million of cubic feet per day (MMcfpd) of U.S. natural gas production and 750 barrels per day of U.S. natural gas liquids output during the second quarter due to weak prices.The U.S. oil and gas producer also completed the sal...Reuters
Wed, Jul 9
Marathon Galveston Bay, Texas Refinery Reports Emissions Event
July 9 (Reuters) - MARATHON PETROLEUM CORP MPC.N :REPORTS EMISSION EVENT AT GALVESTON BAY, TEXAS, REFINERY AFTER COMPRESSOR 101B SHUTDOWN UNEXPECTEDLY AND CAUSED UNIT TO COME DOWN AND DE-PRESSURE TO THE FLARESOURCE: TEXAS COMMISSION ON ENVIRONMENTAL QUALITY FILINGREFINERY CAPACITY: 631,000 BARRELS P...Reuters
Wed, Jul 9
GRAINS-Corn rises after setting contract lows on favorable US crop prospects
Corn futures inch up after hitting contract lowsGains capped by favorable U.S. supply outlookUSDA slated to issue monthly crop data on FridayBy Tom Polansek CHICAGO, July 9 (Reuters) - Chicago Board of Trade corn futures turned higher on Wednesday after favorable U.S. crop conditions pushed price...Reuters
Wed, Jul 9
Chile, Mexico look to new markets ahead of Trump copper tariffs
Trump says he will announce 50% copper tariffsChile, Mexico ship their copper largely to ChinaGovernments awaiting clarity on US measuresCopper exporters prepared to seek new marketsBy Daina Beth Solomon, Fabian Cambero and Ana Isabel Martinez SANTIAGO/MEXICO CITY, July 9 (Reuters) - Top offi...Reuters
Wed, Jul 9
ICE canola futures slump on technicals, weakness across vegoils
WINNIPEG, Manitoba, July 9 (Reuters) - ICE canola futures fell more than 3% on Wednesday as technical selling compounded weakness in vegoils to trigger the biggest decline in canola for almost two months.• November canola RSX5 settled down $23.01 at $681.09 per metric ton. Following months were also...Reuters
Wed, Jul 9
CBOT wheat finishes nearly flat as US harvests progress
CHICAGO, July 9 (Reuters) - Chicago Board of Trade soft red winter wheat futures finished nearly unchanged on Wednesday as advancing U.S. harvests kept a lid on the market.Hard red winter wheat and hard red spring wheat futures edged higher.The U.S. winter wheat harvest was more than half complete, ...Reuters
Wed, Jul 9
Oil steady on strong gasoline demand, Red Sea attacks while Trump tariffs loom
EIA reports US crude stocks rose, fuel stocks fell last weekRescue mission under way in latest Red Sea attackTrump's copper tariffs are steeper and sooner than expectedUAE energy minister says markets absorbing OPEC+ output boostsBy Georgina McCartney HOUSTON, July 9 (Reuters) - Oil prices we...Reuters
Wed, Jul 9
US natgas prices fall 4% to six-week low on low cash prices, ample stockpiles
Cash prices below futures every day since AprilGas stockpiles 6% over normal levels and risingOutput on track for record high in JulyBy Scott DiSavinoJuly 9 (Reuters) - U.S. natural gas futures fell about 4% to a six-week low on Wednesday on low cash prices, an increase in output so far this month a...Reuters
Wed, Jul 9
CBOT soybeans weaken as US tariff disputes fuel demand worries
CHICAGO, July 9 (Reuters) - Chicago Board of Trade soybean futures closed lower for a third consecutive session on Wednesday amid worries that tariff disputes may hurt demand for U.S. crops, analysts said.Fund selling added pressure to prices, traders said.Traders this week have been rattled by a la...Reuters
Wed, Jul 9
PRECIOUS-Gold inches higher with focus on trade talks
EU seeks trade deal with Trump, new tariff notices dueFed minutes show narrow support for a reduction in borrowing costs By Anushree Mukherjee and Sarah Qureshi July 9 (Reuters) - Gold prices edged up on Wednesday as investors closely watched negotiations between the United States and its trading...Reuters
Wed, Jul 9
CBOT corn rises from contract lows on short-covering, bargain-buying
CHICAGO, July 9 (Reuters) - Chicago Board of Trade corn futures closed higher on Wednesday, as the market rebounded slightly after hitting contract lows under pressure from favorable U.S. crop prospects, traders said.Short-covering and bargain-buying helped the market recover, they said.U.S. weather...Reuters
Wed, Jul 9
US Cash Grains-Corn basis bids mixed
CHICAGO, July 9 (Reuters) - Spot basis bids for corn were steady to mixed in a spot check of locations in the U.S. Midwest on Wednesday, as favorable growing weather continued in the region. The corn basis improved at an ethanol plant in Union City, Indiana, but ticked down at a processor in Cedar R...Reuters
Wed, Jul 9
CSU decreases Atlantic hurricane season forecast to 16 named storms, eight hurricanes
By Mia MacGregorJuly 9 - (The Insurer) - Colorado State University has decreased its forecast for the 2025 Atlantic hurricane season, now predicting slightly above-normal activity amid high levels of Caribbean wind shear, a condition typically linked to reduced hurricane activity.In its July 9 updat...Reuters
Wed, Jul 9
Texas officials deflect mounting questions about response to deadly flood
Officials face questions about whether warnings could have been issued soonerNinety-five dead in Kerr County, including 36 childrenFlash flood in New Mexico claims three livesBy Jane Ross and Maria Alejandra CardonaKERRVILLE, Texas, July 9 (Reuters) - Officials in flood-stricken central Texas on Wed...Reuters
Wed, Jul 9
Chile in contact with US copper importers as tariffs loom, minister says
SANTIAGO, July 9 (Reuters) - Chile, the world's largest supplier of copper, is in contact with major U.S. importers and is seeking to understand the full scope of proposed U.S. tariffs on the red metal, Foreign Minister Alberto van Klaveren said on Wednesday."Chilean copper will keep finding...Reuters
Wed, Jul 9
Trump says five African nations unlikely to face US tariffs
WASHINGTON, July 9 (Reuters) - U.S. President Donald Trump on Wednesday said African nations are going to lower their tariffs and that the United States treats Africa better than China does, adding that five African countries were unlikely to face U.S. tariffs. Trump, meeting with the leaders of Gab...Reuters
Wed, Jul 9
US still sees many tariff and non-tariff barriers in Africa, USTR says
WASHINGTON, July 9 (Reuters) - The U.S. will look at a possible extension of a U.S. law that provides duty-free access to over 1,800 products from sub-Saharan African countries, but would need to address many tariffs and non-tariff barriers still in place on the continent, U.S. Trade Representative ...Reuters
Wed, Jul 9
