GRAINS-Chicago corn and soybeans rebound from multi-month-lows
Analysts said that Chicago corn and soybeans futures rose from their multi-month lows on Friday, thanks to short covering and the weakening of the dollar. On Monday, grain market participants also adjusted their positions after focusing on the U.S. Department of Agriculture's acreage reports and stock and crop progress updates.
GRAINS - Chicago corn and soybeans rebound from multi-month-lows
Analysts said that Chicago corn and soybeans futures rose from their multi-month lows on Friday, supported by short cover and a declining dollar. On Monday, grain market participants also adjusted their positions after focusing on the U.S. Department of Agriculture's acreage reports and stock and crop reports.
EU approves Italian scheme to support energy-intensive industries
Italy's Energy Minister said that the European Commission had approved a scheme by the Italian government to support power-intensive industries as well as a green transition in Italy. Gilberto Pichetto-Fratin, in a press release, said that the Commission considered "Energy Release 2.0" to be compatible with EU rules on internal markets and regulations on state aid.
Denmark warns EU not to stop green transition
The climate minister of Denmark said that European nations must not stop the green transition on the continent. His country is preparing to lead EU negotations over a new climate goal amid backlash from governments worried about its costs. Next week, the European Commission will propose a new climate target…
EU relaxes rules on state aid to promote green projects and reduce carbon footprint
The European Commission announced Wednesday that it would make it easier for businesses to receive state aids to support projects to reduce carbon emissions or to switch to "green" projects. Heavy industries will also benefit from temporary price reductions in electricity under the new rules. The Commission announced Wednesday that the new rules for state aid…
EU relaxes rules on state aid to promote green projects and reduce carbon footprint
The European Commission announced Wednesday that it would make it easier for businesses to receive state aids to support projects to reduce carbon emissions or to switch to "green" projects. Heavy industries will also benefit from a temporary reduction in power prices under the new rules. The Commission announced Wednesday that the new rules for state aid…
Palm oil prices fall as Middle East tensions weigh
The price of Malaysian palm oils futures fell on Wednesday, reversing earlier gains as the market was weighed down by uncertainty about the developments in the Israel/Iran conflict. However, strong export data helped to limit the losses. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives…
Palm prices rise on the back of exports but Middle East unrest caps gains
The price of Malaysian palm oils futures increased slightly on Wednesday. This was a slight recovery from the previous session. Expectations of strong export numbers supported the market while uncertainty about the Middle East conflict limited the gains. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 12 ringgit (0.3%)…
EU agrees on loosening gas storage regulations
After concerns were raised that the EU's earlier rules regarding filling gas storage could have led to an increase in energy prices, the EU member states and the EU parliament reached agreement on a loosening of the EU's regulations on filling. The European Commission announced the agreement on Tuesday. In 2022…
Draft document shows that heavy industries will get a price reduction on electricity under the new EU regulations
A draft of the new EU rules on state aid, which are due to be published by the European Commission on Wednesday, revealed that heavy industries would receive a temporary reduction in electricity prices. This is despite criticisms from companies about high energy costs and restrictive green regulations. Eurometaux…
EU envoys are expecting to resolve the blockage of new Russia sanctions by this week
Diplomats from the European Union said that they expected to reach an agreement during a summit of the EU this week regarding an 18th package against Russia. Slovakia and Hungary use it as a bargaining tool for concessions about Russian energy. The European Commission proposed the package to encourage Russia…
Hungary's Orban calls on EU to lift Russian energy ban amid US/Iran conflict
Hungarian Prime Minster Viktor Orban urged on Sunday the European Union not to impose a ban on Russian Energy due to the expected increase in energy prices after the US bombings of Iran. The European Commission proposed on Tuesday a legally-binding ban on EU imports from Russia of gas and liquefied gas by 2027.
Russian Yamal LNG Plant Ships First Cargo This Season Via Northern Sea Route
Russia's Yamal LNG plant, operated by Novatek, has dispatched a first cargo of liquefied natural gas this season via the Northern Sea Route to China, Kommersant daily reported on Friday, citing Kpler data.It said the Arc 7 ice-class tanker Georgiy Ushakov left the port of Sabetta on June 19 and has been moving eastward along Russia's Arctic shore.The route, challenging due to thick
EU takes measures to limit ethanol imports by Pakistan
The European Commission ended its tariff preference for imports of non-fuel ethanol from Pakistan. This was in response to EU ethanol producers' concerns that an influx of cheap imports coming from Asia were putting pressure on prices and disrupting markets. In the EU Official Journal, published on Friday, the…
The EU's plans to ban Russian gas
The European Commission proposed Tuesday legally binding measures to end the European Union's imports from Russia of gas and liquefied gas by the end 2027. This would put an end to decades-old energy relationships with Europe's ex-top gas supplier. The details of the proposals are below. They still require approval by EU countries and the European Parliament.
Austria: EU should resume Russian gas imports in the event of peace in Ukraine
An Austrian official told Brussels that the European Union would be willing to resume Russian gas imports in the event of a peace agreement between Russia and Ukraine. The European Commission will propose legal measures to implement the ban on Tuesday, with the goal of ending the EU's dependence on Russian energy before the end of 2027.
Austria: EU should consider returning to Russian gas in the event of peace in Ukraine
An Austrian official told Brussels that the European Union would be willing to resume Russian gas imports if there was a future peace agreement between Russia and Ukraine. The European Commission will propose legal measures to implement the ban on Tuesday, with the goal of ending the EU's dependence on Russian energy before the end of 2027.
EU continues with Russian gas banning proposal despite Hungary and Slovakia's vetoes
Hungary and Slovakia opposed on Monday a planned European Union prohibition on Russian gas imports. However, Brussels is expected Tuesday to propose the legislation, which may pass without their approval. By the end of 2027, the European Commission plans to ban EU imports of Russian gas and LNG. It will announce the legal implementation of the plan announced last month on Tuesday.
EU countries are considering a softening of the methane emission law for gas imports
According to a document obtained by, European Union countries could demand that Brussels simplifies the EU's law on methane emissions, which has raised concerns among companies that it may hinder imports of U.S. liquid natural gas. The EU will require importers of gas and oil to report and monitor the methane associated with their imports starting this year.
Palm oil falls due to softer rival oils, rising stocks and softer rival oils
Malaysian palm futures continued to fall for the second consecutive session on Wednesday, closing at their lowest level in over two weeks. Weakened rival edible oil prices as well as rising stocks of May-end oil were to blame. The benchmark contract for palm oil delivery in August on the Bursa Derivatives Market fell 25 ringgit (0.65%) to 3…
