Soybean and corn futures fell on the Chicago Board of Trade on Tuesday, pressured by abundant global supplies, weak demand, and continued favorable weather for crops in the US Midwest.

Corn prices came under additional pressure due to expectations of a bumper US harvest, supported by forecasts of favorable weather in the Corn Belt. Meanwhile, wheat prices declined as harvests accelerated across the Northern Hemisphere, boosting expectations of higher global supply.

Oli Hough of IKON Commodities in Sydney stated: “Soybeans remain under pressure due to large expected crops in both the US and globally. It’s hard to see this market rallying significantly in the coming months.”

Weak export demand further weighed on soybeans, as the latest weekly US export sales figures disappointed.

On the trade front, the US and the European Union reached a framework agreement on Sunday that included a 15% import tariff on most European goods, avoiding a full-blown trade war that could have jeopardized a trade relationship representing about one-third of global commerce.

A German trader commented: “The US-EU agreement mentioned the potential removal of tariffs on some agricultural products, but the lack of details makes it difficult to judge.” He added, “Still, there’s general relief that a destructive trade war between the US and the EU has been averted.”

The German trader also noted that wheat is burdened by both weak demand and an influx of supply from ongoing harvests in the US, EU, and Black Sea region.

“There are virtually no wheat purchase tenders in the market at the start of the week,” he said.

“Russian farmers were initially reluctant to sell their new crop, but with harvest season expanding in Russia, they may be forced to increase exports, as they can’t store the entire crop.”

Corn

In trading, December corn futures fell by 0.7% to close at $4.11 per bushel.

Soybeans

November soybean futures declined by 0.2% to $10.09 per bushel.

Wheat

September wheat futures dropped by 1.6% to settle at $5.26 per bushel.

Most digital currencies declined on Tuesday amid weak risk appetite, despite optimism surrounding trade agreements between the US and its partners. Ethereum and other cryptocurrencies came under selling pressure as investors moved to lock in profits.

The United States and China recently concluded a round of trade talks, agreeing to extend the existing tariff truce — though no details were provided regarding the duration or specific terms of the extension.

While the US has recently reached trade agreements with the European Union and Japan, negotiations with China remain more complex and protracted, according to Reuters.

US President Donald Trump stated that he may meet with Chinese President Xi Jinping before the end of the year.

The US Federal Reserve is holding its two-day policy meeting starting Tuesday and concluding Wednesday, with expectations that interest rates will remain within the range of 4.25% to 4.5%.

Traders will be focused on the tone of the accompanying statement and commentary, looking for potential signals of future rate cuts later in the year. A dovish tone from the Fed could offer additional support to Bitcoin by lowering yields on low-interest safe-haven assets.

Meanwhile, more companies continue to report their quarterly earnings. Boeing released its results today, but attention in the coming days will shift to Microsoft, Meta, Amazon, and Apple.

US Bureau of Labor Statistics data released Tuesday showed that job openings fell to 7.44 million in June, down from May’s downwardly revised figure of 7.7 million — a decline of 57,000 — and below expectations for a drop to 7.51 million.

Separately, data from the Conference Board revealed that US consumer confidence rose to 97.2 points in July, up from 95.2 in the upwardly revised June reading — an increase of 2.2 points.

In its latest update to the World Economic Outlook report first published in April, the International Monetary Fund raised its forecast for global economic growth in 2025 by 0.2 percentage points to 3.0%, and for 2026 by 0.1 percentage points to 3.1%. However, both forecasts remain below the January estimates of 3.3% for each year and below the pre-pandemic historical average of 3.7%.

Ethereum

As for trading activity, Ethereum declined by 0.8% to $3,748.9 as of 21:14 GMT on CoinMarketCap.

In late May, President Donald Trump issued four executive orders aimed at expanding the nuclear energy sector in the United States. As these orders begin to take effect, several Washington-based political publications have highlighted their potential implications — most notably, the possibility of ending the Nuclear Regulatory Commission’s (NRC) role in approving new reactor designs, shifting that responsibility to the Pentagon and the Department of Energy.

One official within the administration described the NRC’s upcoming role as merely a “rubber stamp,” implying that the commission had been too slow in approving new reactor designs — a perceived obstacle to the president’s goal of dramatically expanding nuclear power in the country. In other words, the NRC is being “sidelined,” much like FEMA was in earlier contexts.

This shift raises the question: does this change represent a genuine deregulation of commercial nuclear technologies, especially if upcoming reviews overseen by the Department of Defense and the Department of Energy turn out to be less stringent than those traditionally conducted by the NRC?

Why Is This Administrative Shift Seen as a Prelude to a Nuclear Renaissance?

Several reasons support this view. First, setting aside nuclear power itself, US electricity demand forecasts are more optimistic than they've been in decades. And it’s not just about data centers, which may prove to be a passing trend. A new high-efficiency chip could soon be developed that consumes only a fraction of current electricity, instantly reducing that demand.

We’ve repeatedly seen boom-and-bust cycles tied to rare technologies like lithium or cobalt. Yet, the growing and steady demand for electricity isn’t solely driven by modern tech — it comes from broader electrification trends: heat pumps (used for heating and cooling), electric cars and trucks, and replacing fossil fuels with electricity in industrial applications. In our view, the AI boom is just “icing on the cake,” amplifying a demand cycle that was already underway.

In short, US electricity demand is growing significantly, with or without AI, which is a positive trend for all energy sources — including nuclear.

Will Reactor Licensing Be Accelerated?

It’s difficult to gauge how much faster the reactor approval process will be without NRC oversight. So far, the NRC has approved only one design — a 50-megawatt small modular reactor (SMR) by NuScale. However, NuScale soon requested a design modification to increase capacity to 77 megawatts, resulting in additional delays, making it a poor benchmark.

Still, there are many SMR designs in the pipeline, and any regulatory acceleration would benefit them all. Reducing or eliminating the NRC’s role removes a major obstacle to the commercial viability of these new reactor designs.

Adoption by the Military and Industrial Sector

A critical step toward commercial adoption is acceptance by utilities, government, and industry. Now, thanks to the president’s orders, the US military may become a major customer for two types of small reactors: ultra-small 5–10 MW reactors to power remote locations (like Westinghouse’s eVinci), and larger models like those being developed by NuScale and Holtec.

In some ways, this return to military use is a “back to roots” moment for nuclear energy. But industry is also getting involved. Dow Chemical, for example, has ordered four 80-megawatt reactors from X-Energy to provide power and steam to its plant in Seadrift, Texas.

Despite these promising developments, however, the volume of new demand remains modest.

A Massive Project on the Horizon: Fermi America

Former US Energy Secretary Rick Perry wants to build four Westinghouse AP1000 reactors as part of a massive energy project in Texas. His company, Fermi America, is proposing a “hypergrid” of 6,000 megawatts combining nuclear, gas, and renewables to power a giant data center complex in Amarillo, Texas.

Interestingly, Amarillo is not part of ERCOT, the grid that covers most of Texas. That means the generated power would be off-grid and non-exportable.

The project was met with some ridicule when a press release claimed the first reactor would be operational by 2032. Still, it remains one of the most important projects to watch. If Fermi America can secure the permits and funding to build over 4,000 megawatts of nuclear power at once, it could be a game-changer.

It’s worth noting that multiple-reactor construction was once common among major entities like the Tennessee Valley Authority (TVA) or the Washington Public Power Supply System, which famously ended in financial disaster.

Funding Is the Biggest Hurdle… Always

It may be time to consider a new wave of multi-reactor nuclear builds. Given America’s electricity consumption, four new reactors would account for less than 5% of California’s grid capacity, for example.

The bigger question: can these projects be financed? Funding has always been nuclear energy’s Achilles’ heel. But the good news is that electricity prices are generally rising — a trend that favors high-cost producers like nuclear.

Conclusion: A New Nuclear Era?

Let’s consider new nuclear builds through the lens of the “energy triangle,” which says power must be affordable, sustainable, and safe. But you can’t optimize all three at once.

In this context, nuclear has never been cheaper than alternatives. But it is considered sustainable (low carbon emissions) and has reliable domestic fuel supplies.

This time, though, may be different. We believe the nuclear renaissance won’t be driven by price-sensitive utilities but by price-insensitive players like industrial firms, tech companies, chipmakers, district heating systems, or major universities.

Even high-cost energy markets like Hawaii or Puerto Rico could become promising nuclear customers.

The potential market for high-priced electricity — outside traditional distribution utilities — is substantial. And the current US administration has sent a clear message to the nuclear industry: “Find buyers for your products, and we’ll approve the contracts.” It’s hard to imagine a more supportive environment than that.

Palladium prices declined during Tuesday's trading amid a rise in the US dollar against most major currencies, but palladium is nearing a key threshold due to concerns about supply disruptions.

US President Donald Trump yesterday set a new deadline ranging from 10 to 12 days for Russia to reach a peace agreement with Ukraine to end the ongoing war between the two neighbors since early 2022.

This comes as a reduction from Trump's previously granted deadline to Russia, which had spanned 50 days — ending in early September — to end the war with Ukraine, or else face 100% tariffs on countries importing goods from Russia.

On Sunday, a trade agreement was announced between the United States and the European Union stipulating the imposition of a 15% tariff on most European goods, instead of 30%. US President Donald Trump also indicated that the deal includes a commitment from the European Union to purchase $750 billion worth of American energy products over the coming years.

Meanwhile, senior officials from the United States and China are scheduled to meet in Stockholm today, Monday, in an attempt to extend the trade truce before the August 12 deadline.

The Federal Reserve is also holding its meeting, which begins today and continues through Wednesday, amid expectations of keeping the interest rate in the range of 4.25% to 4.5%.

Traders will focus on the wording of the statement and accompanying remarks in search of potential signals for later interest rate cuts this year. A dovish tone from the Fed could further support Bitcoin by reducing returns on low-interest safe assets.

On the other hand, the dollar index rose by 0.4% to 99.01 points at 16:24 GMT, recording a high of 99.1 points and a low of 98.5 points.

As for trading, palladium futures for September delivery fell by 1.3% to $1275 per ounce at 16:24 GMT.