Wheat, corn and soybean futures closed lower in Chicago on Wednesday, 8 July 2026, as traders trimmed positions before the USDA weekly export sales report on Thursday and the monthly WASDE update on Friday. September CBOT wheat fell 1.74% to $223.31 per tonne, corn dropped 1.97% and soybeans slipped 0.46%.
Coal remains central to several major economies because it is cheap and widely available, even as the energy transition advances. Demand is now concentrated in fast-growing, industrialising regions, splitting the market between mature economies phasing coal down and consumers where power and industry still lean on it.
The European Commission told MEP Vicent Marza it saw no reason to classify Brazilian orange juice as a sensitive product under the EU-Mercosur deal. Agriculture Commissioner Christophe Hansen argued that EU juice imports fell from about 1.3 million tonnes in 2020 to 600,000 tonnes in 2025. The interim deal has been phasing out the 12.2% tariff on Brazilian juice since May without quotas or specific safeguards.
Brazilian soybean traders sold approximately 4 million tonnes domestically during the week ending July 8, according to Brandalizze Consulting, as Chicago futures held near their strongest levels of the year before easing on Wednesday. Old-crop sales are tracking close to the historical average, while forward sales of the 2026/27 crop lag behind amid rising input-cost concerns tied to surging oil prices.
The India-New Zealand Free Trade Agreement, unveiled during Narendra Modi's visit, gives New Zealand tariff-free access to India's kiwifruit market. The deal removes the 33% tariff on up to 15,000 tonnes per year, and Zespri expects India to become its fifth-largest market within a decade.
The European Commission has introduced anti-dumping duties of 4.3% to 45.3% on new car, bus and light commercial vehicle tires imported from China. The measure took effect on 8 July 2026 and will run for five years, targeting the budget Tier-3 segment where most Chinese imports sit.
India and Australia have finalised the administrative arrangements to allow Australian uranium exports to India for exclusively peaceful use, announced during Prime Minister Narendra Modi's visit. Australia is the world's fourth-largest uranium producer, while India plans to reach 100 GW of nuclear capacity by 2047.
Italian farm association Confagricoltura says durum wheat quotations have dropped below €300 per tonne, under average production costs, forcing growers to harvest the 2026 crop at a loss. Planted area has fallen 10% since 2012 and self-sufficiency has slipped to 56.5%, deepening Italy's dependence on imported wheat for its pasta industry.
Turkey's confectionery and chocolate sector exported a record $4.5 billion in 2024, up 16% year-on-year, shipping 1.2 million tons to about 198 countries. Iraq, the United States and Germany were the top buyers, and exports in early 2025 are already running ahead of last year's pace.
India's soybean acreage is expected to grow 5-7% in the kharif 2026 season as mandi prices trade well above the support level, drawing farmers back from maize, according to SOPA. The trade body pegs sowing at 100.31 lakh hectares as of July 8, far above the government's estimate.
The Indonesian government is accelerating a Rp65.77 trillion sugarcane investment and downstream program aimed at sugar self-sufficiency, according to investor.id. Farmers are being enlisted as plasma partners for state-owned processors, with the goal of halting imports. The drive was showcased at a large harvest in Jember attended by the Air Force chief of staff.
Indonesia's trade ministry says it will evaluate an importer association's request to enlarge the garlic import quota, tied to market conditions. The move comes as national prices sit above the reference level and the rupiah stays weak, with China the dominant supplier.
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