Latest / The Commodities Economy with Fexingo: Oil, Gold, Wheat, and Raw Material Markets
How Wheat Is Surging While Natural Gas Crashes in July 2026
On this episode of The Commodities Economy, Lucas and Luna explore the bizarre divergence between wheat and natural gas. Wheat futures are up 5.5% in the last five days to over $6.39 per bushel, while natural gas has plunged 9.3% to under $3. Why is one soaring and the other cratering? We unpack the drivers: a heat wave scorching Europe's wheat belt, record Russian exports capping gas prices, and the role of the U.S.-Iran tensions in energy markets. Plus, we tie it to the broader economic picture — cooling inflation expectations and a potential Fed pivot. No prior episode has covered…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.