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Global commodity market volatility

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2026-08-11 13:28 UTC → 2026-08-11 21:57 UTC · added ~~removed~~

Global commodity markets continue to experience volatility driven by geopolitical instability, economic shifts, and intensifying climate phenomena. In the energy and industrial sectors, rising demand for copper linked to the artificial intelligence boom and inflation-driven interest in gold impact market dynamics. Geopolitical tensions, including US sanctions on Venezuela and instability involving Iran, maintain risks for energy supply chains, particularly regarding the Strait of Hormuz. Agricultural markets face significant upward pressure. The FAO Food Price Index for cereals rose 3.4% in July, with wheat prices jumping 5.8% due to heatwaves and Black Sea export concerns. Sugar prices also increased 5.6% in July, influenced by heat in the EU, El Niño risks in Asia, and rising ethanol demand in Brazil. In Brazil, the corn harvest in Mato Grosso is nearing completion, with production projected at 57.3 million tons. However, producers face economic challenges due to rising input costs for the upcoming season. While soybean producers remain cautious, authorities in Mato Grosso do Sul recently uncovered a scheme involving the theft of nearly 100 tons of soybeans. In the livestock sector, cattle confinement costs in Southeast Brazil reached a 23-month low in July, while profitability has increased in both the Southeast and Midwest regions. Climate risks are escalating as NOAA reports an 81% probability of a “very strong El Niño” between October and December, which may increase extreme weather events, such as storms and tornadoes, in South America. This potential for El Niño has caused significant concern among the Brazilian population regarding food inflation and infrastructure stability. Global grain markets are currently awaiting the USDA supply and demand report scheduled for August 12 to determine future price directions.

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