1. Indonesia's Ministry of Trade announced on Tuesday that it has set the reference price for crude palm oil in July at $1,000.90 per tonne, down from $1,029.51 in June.
2. The Shanghai Futures Exchange announced that, effective from the closing settlement on Thursday, July 2, 2026, the daily price fluctuation limit for gold futures contracts AU2607, AU2608, AU2609, AU2610, AU2612, AU2702, and AU2704 will be 14%, the margin requirement for hedging positions will be 15%, and the margin requirement for general positions will be 16%.
3. The USDA planting acreage report projects the U.S. soybean planting area for 2026 to be 85.4 million acres, compared to market expectations of 85.369 million acres and the March planting intentions report of 84.7 million acres. As of June 1, 2026, total old-crop soybean stocks in the United States were 1.061 billion bushels, compared to market expectations of 1.046 billion bushels and 1.008 billion bushels in the same period last year.
4. New EU regulations aimed at protecting the EU steel industry will take effect on July 1. They will reduce duty-free import quotas for steel products by 47% from 2024 levels, to 18.3 million tons per year.
5. According to the latest survey statistics, as of the 30th, only one coal mine in Qinyuan County, Changzhi City, has resumed production (with a capacity of 1.5 million tons), with an average daily output of approximately 5,000 tons of raw coal. One of the two coal mines that previously passed inspection (with a capacity of 2.1 million tons) has received a notice for re-inspection, which is expected to take 4-5 days. Production may resume after the inspection.
6. Statistics Canada released its preliminary report on major field crop acreage, stating that the country's canola planting area increased by 8.4% this year to 23.4 million acres, surpassing the previous record high of 23 million acres set in 2017. The projected planting area for 2025 is 21.6 million acres.
7. According to sources, following the supply shock caused by the conflict in Iran, Indian state-owned refiners are planning to reduce their reliance on the Middle East and shift more towards other procurement channels, including spot market purchases. Sources indicated that refiners are seeking to reduce the amount of crude oil purchased from Middle Eastern producers under long-term contracts.
8. According to the latest survey by SMM, several leading companies reduced production in July. It is rumored that an unplanned maintenance shutdown occurred at a company's Xining base in Qinghai, which will have a certain impact on output that month. Overall, production in July decreased by approximately 5%-6% compared to June. Silicon wafer companies are showing a divergent trend in inventory accumulation, with leading companies' inventories already exceeding reasonable levels.
