Commodity Markets Mixed on Crude Oversupply, Grain Surge, and Weak Battery Demand

에너지/원자재 | Tue Jul 07 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 6 sources

Saudi Arabia's oil price cuts intensified crude oversupply concerns, Midwest heatwaves drove grain prices higher, and LG Energy Solution missed estimates on weak EV demand.

Analysis

[International Oil Prices] faced heightened oversupply concerns following Saudi price cuts ^[2]

Saudi Arabia sharply lowered export prices
Increased traffic through the Strait of Hormuz
Signals of global crude oversupply

[China] ramped up Middle East crude purchases at Saudi discount prices ^[5]

Purchased at least 26 million barrels in recent days
Saudi Arabia sharply cut Asia-bound export prices
Reported by Financial Times

[Corn and Soybean Futures] surged on U.S. Midwest heatwave and dry weather ^[6]

Reached highest levels in a month
U.S. National Weather Service forecast Midwest heat
Buying interest driven by crop concerns

[LG Energy Solution] missed Q2 estimates on weak EV demand ^[1]

Weakened EV support in key markets including the U.S.
ESS demand surge failed to offset shortfall
Preliminary earnings announcement

[USA Rare Earth] plunged 23% in June ^[3]

Rare earth-related stock declined
Double-digit monthly drop

[Robert Kiyosaki] predicted 765% surge in physical assets while claiming to accumulate ^[4]

Bullish outlook on 'real money' assets
Forecasted long-term upward cycle
Stated he continues to buy

Commodity Markets Mixed on Crude Oversupply, Grain Surge, and Weak Battery Demand

Analysis

Sources