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(Bloomberg) — A fragile ceasefire in the Black Sea brings hope for a boost in global shipments of wheat from Europe’s breadbasket. The US is set to release its latest corn plantings report, signaling future output for the world’s largest exporter of the grain. And energy traders across the world are hot for US liquefied natural gas.

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Here are five notable charts to consider in global commodity markets as the week gets underway.

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Wheat

The US-brokered ceasefire between Russia and Ukraine in the Black Sea stands to lift global shipments of wheat and other agricultural goods from the countries. Russia is on track to be the world’s top wheat exporter for an eighth season. And, despite attacks on vessels and infrastructure in the port of Odesa, Ukraine’s grain loads are close to pre-war levels. The deal has the potential to make transporting goods cheaper by reducing insurance costs for vessels.

Corn

American farmers are expected to plant the most corn acres in five years, potentially boosting supplies in the world’s biggest producer and exporter. The US Department of Agriculture releases its annual spring planting outlook Monday, as well as a quarterly grain stockpiles report. Roughly a third of the US corn crop is used for domestic ethanol production, and farmers are expected to turn to a surer bet of corn as US President Donald Trump’s proposed reciprocal tariffs may hit export demand for crops.

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Copper

Chile’s state-owned Codelco has held its status as the world’s biggest copper producer by a slim margin after reporting 2024 output just above Australia’s BHP Group. Codelco posted total full-year production of 1.44 million metric tons last year, which includes its share from mines it doesn’t operate. That compared with BHP’s attributable production of 1.43 million tons, according to Bloomberg Intelligence estimates. Codelco has been playing catch-up after decades of underinvestment, with a push to finish projects key to tapping richer areas of its aging mines. BHP has also embarked on a $10.8 billion plan to overhaul old operations in Chile, where it oversees the world’s largest copper mine, Escondida.

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LNG

The US is set to expand export capacity of liquefied natural gas by 60% in the next few years, according to BloombergNEF, and international traders are taking notice. Asia-originated trading of benchmark US natural gas has more than doubled over the past year. The US market has also seen increases originating from Europe, the Middle East and Africa. The surge underscores the growing importance of LNG for global energy supplies. 

Oil

Venezuela is boosting oil exports to China to the highest in almost two years as the Trump administration deploys sanctions and secondary tariffs. Shipments are set to rise to the highest since June 2023, according to preliminary data from shipping reports and vessel movements tracked by Bloomberg. China, the world’s biggest oil importer, has historically been a top purchaser of deeply discounted barrels from sanctioned nations, including Venezuela, Iran and Russia.

—With assistance from Elizabeth Elkin and Lucia Kassai.

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