Nasdaq Commodities

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

American Airlines Group Inc said on Tuesday it plans to offer 74.1 million shares of its common stock priced at $13.50 per share.

Australia's mining lobby group, the Minerals Council of Australia, long derided by environmentalists as coal-loving dinosaurs, has launched a climate action plan that is probably significant for what it doesn't say than what it does.

WTI hit $40 and retreated a bit in recent days, but appears to be stabilizing for the time being at around that threshold. Rystad Energy says that $40 is the new normal. 

Lufthansa has not yet reached an agreement with unions on a package to cut staff costs, it said on Tuesday, adding to the pressure on the German airline before a crunch shareholder vote on a 9 billion euro bailout plan to be held on Thursday.

Saudi Arabia is to limit the number of domestic pilgrims attending the haj to around 1,000 to prevent the spread of the coronavirus, after barring Muslims abroad from the rite for the first year in modern times.

South African maize farmers are expected to harvest 38% more maize in the 2019/2020 season compared with the previous season after favourable weather conditions boosted yields, a Reuters survey showed on Tuesday.

Slaughtering cattle is a solitary, but personal business for Gerrit vande Bruinhorst, 55, the mobile butcher of Picture Butte, Alberta.

The European Central Bank needs a few weeks to review a request by Italian billionaire Leonardo Del Vecchio to double his Mediobanca stake, ECB supervisory board chair Andrea Enria said in a newspaper interview published on Tuesday.

Dublin Airport Authority, Ireland's largest airport operator, expects COVID-19 to lead to between 750 and 1,000 job losses, Chief Executive Dalton Philips said on Tuesday.

The South African government said on Tuesday it had received unsolicited proposals from private sector funders, private equity investors and potential partners for a new national airline based on struggling South African Airways (SAA).

Lufthansa said on Tuesday it had not yet reached an agreement with unions on a package to cut staff costs but added that talks with two unions would continue to try and seal a deal before an extraordinary shareholders meeting on Thursday.

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Chinese shares ended higher on Tuesday, as investors were reassured by U.S. President Donald Trump's assertion that the trade deal between China and the United States remains in place.

China has approved the import of two new genetically modified (GM) soybean varieties, including one developed by local firm Beijing Dabeinong Technology Group Co Ltd, its agriculture ministry said on Tuesday, making it the first Chinese engineered soybean allowed for import.

The United States is planning to re-impose tariffs on aluminum imports from Canada, Bloomberg reported https://www.bloomberg.com/news/articles/2020-06-23/u-s-set-to-announce-aluminum-tariffs-on-canada-by-end-of-week?sref=C6LRZopg late on Monday, citing people familiar with the matter.

China, the world's top meat importer, said on Tuesday a Brazilian beef exporter and a pork plant in Britain had voluntarily suspended exports because of coronavirus infections.

The United States is planning to re-impose tariffs on aluminum imports from Canada, Bloomberg reported https://www.bloomberg.com/news/articles/2020-06-23/u-s-set-to-announce-aluminum-tariffs-on-canada-by-end-of-week?sref=C6LRZopg late on Monday, citing people familiar with the matter.

Australia's mining lobby group, the Minerals Council of Australia, long derided by environmentalists as coal-loving dinosaurs, has launched a climate action plan that is probably significant for what it doesn't say than what it does.

U.S. soybean sales to China have finally started to resemble the pre-trade war era, but amid massive Brazilian shipments and the record build in Chinese soybean stocks, one cannot help wondering whether China will end up needing as many soybeans as the United States hopes to export later in the year.