ICE cotton futures extended gains, with Jul 26 nearing the 3-cent daily limit and several contracts rising as much as 299 points. Crude oil jumped $3.65 after Iran struck vessels in the Strait of Hormuz overnight, prompting the US to revoke waivers authorizing Iran oil exports. US cotton condition ratings slipped to 46% good/excellent, while May exports totaled 1.46 million bales and ICE certified stocks held at 185,034 bales.

U.S. wheat futures finished broadly higher on Tuesday, with leading CBOT, KCBT and MIAX contracts up 1 1/4 to 11 1/2 cents. NASS crop progress data showed winter wheat harvest running ahead of normal, while spring wheat conditions deteriorated notably in North Dakota, Idaho and Minnesota. Census monthly trade data showed May wheat exports of 1.609 MMT (59.13 mbu), down 26.7% from a year earlier and the lowest level this year.

U.S. corn futures extended gains on Tuesday, with the most-active contracts up 1 3/4 to 6 3/4 cents. The CmdtyView national average Cash Corn price rose 5 cents to $4.13 3/4 per bushel. Crop Progress data showed silking running ahead of the five-year average, while conditions deteriorated in some key states including TX and OH. May export figures were among the strongest on record and ethanol exports set a record, offering support despite nearby supply pressure.

Freedom Metals Acquisition Corp. said it has priced a $275,000,000 initial public offering of 27,500,000 units at $10.00 per unit, with the units set to trade on Nasdaq under the ticker FDMMU. The company is a blank-check vehicle focused on the mining and critical minerals industry and said it has not yet identified a specific business combination target. The offering is part of a standard SPAC formation process and does not involve any specific asset transaction, production change, or policy adjustment.

Mubadala Capital has submitted a binding cash offer to acquire all outstanding securities of Pierre & Vacances-Center Parcs (PVCP) via a voluntary tender offer. PVCP’s board unanimously welcomed the proposed deal, while noting it will still issue a reasoned opinion in the context of the offer. The offer is subject to securing by July 17, 2026, commitments to tender ordinary shares representing at least 80% of PVCP’s outstanding share capital. The tender offer filing is expected in the first quarter of 2027.

Ecuador’s state oil company Petroecuador has started operations at the ACAL-245HUI well in the Auca block, producing 3,181 barrels of crude per day. The company estimates the output will add USD 5.2 million (mn) in monthly income for the Ecuadorian State. The well produces 17.6 API crude and uses an electric submersible pump system. Auca is currently producing 64,000 barrels per day, and three planned hydraulic fractures are expected to lift output by about 1,200 barrels per day.

Nasdaq notified Platinum Analytics Cayman Limited (PTLS) on July 7, 2026 that it plans to delist the company’s securities on July 16 unless it appeals to a Listing Qualifications Hearings Panel. The U.S. Securities and Exchange Commission had previously suspended trading in the stock on Oct. 18, 2025. The securities remain halted, and they may be eligible to trade in the over-the-counter market after removal from Nasdaq.

Missile attacks linked to Iran hit commercial shipping in and around the Strait of Hormuz, damaging a Qatari LNG carrier and a loaded Saudi oil tanker, and prompting the US Treasury Department to revoke an Iran oil waiver, according to Axios. WTI crude oil surged more than 5% in a single session to a 1.5-week high. The spike added a supply-risk premium, lifting inflation expectations and US Treasury yields and weighing on technology valuations. The Nasdaq 100 fell 1.77% to a one-week low, while the S&P 500 slipped 0.45%.