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Commodity and industrial market news — prices, production, trade and regulation — with expert analysis

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| Agriculture: Crops & Grains

Soybean prices reach 26-month high on weather risks and Chinese demand

Chicago soybean futures reached $12.49 per bushel, their highest level since May 2024 and 18.9% above the end of 2025. Drought risks in the United States, possible El Niño effects in Brazil, Chinese purchases and stronger biofuel demand are supporting the market.

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Thomas Reid
Senior Metals & Mining Analyst
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| Trade Policy & Macro

Spanish generics industry warns US pharmaceutical tariffs could trigger shortages

Spain’s generic medicines association, AESEG, has warned that threatened US tariffs on pharmaceutical imports could raise costs and increase the risk of supply shortages. The dispute comes as Washington seeks to move drug manufacturing to the United States and European producers face persistent pressure on margins and capacity.

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Eleanor Hayes
Lead Trade Policy Analyst
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| Agriculture: Crops & Grains

Tighter EU and UK rules raise compliance pressure on Vietnam’s agri-food exporters

Vietnamese farm and seafood exporters face stricter EU and UK requirements on residues, traceability, certification, packaging and emissions data. Europe bought $9.28 billion of Vietnamese agricultural, forestry and seafood products in 2025, but tariff preferences increasingly depend on supply-chain compliance.

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Ana Lucia Fernandes
Senior Agricultural Commodities Analyst
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| Food & Beverages

Italy bars olive oil blends from being marketed as extra virgin

An Italian agriculture ministry circular says blends of extra virgin and virgin olive oil cannot be sold under the extra virgin designation. Packaged stocks may be sold until exhausted, while bulk blends must be reclassified within 30 days of publication in the Official Gazette.

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Isabella Romano
Lead Food & Beverage Analyst
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| Food & Beverages

Spain to introduce refundable deposits on beverage containers from November 2026

Spain will launch a deposit return system for beverage containers in November 2026, requiring bars, restaurants and retailers to collect a refundable deposit. The measure covers plastic bottles, cans and cartons of up to 3 litres and follows a reported 41.3% collection rate for single-use plastic bottles in 2023.

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Isabella Romano
Lead Food & Beverage Analyst
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| Food & Beverages

Brazil’s beer output rises 2.5% in 2025 as US production declines

Brazil produced 15.11 billion liters of beer in 2025, up 2.5% from 2024, according to the BarthHaas Report 2025/2026. The expansion supported South American output and offset much of a 5.2% decline in the United States, although Brazilian government data indicate a different domestic trend.

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Isabella Romano
Lead Food & Beverage Analyst
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| Agriculture: Crops & Grains

India’s pulses import bill falls as domestic output rises and import curbs take effect

India spent less on pulses imports in the 2025-26 financial year as domestic production improved, global prices declined and import restrictions reduced overseas purchases. Kabuli chickpeas were a key part of the shift, affecting procurement decisions for Indian importers and international suppliers.

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Ana Lucia Fernandes
Senior Agricultural Commodities Analyst
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