Reuters reported a sweeping hacking campaign targeting Fortinet devices that caused significant security breaches globally, with password theft indications affecting firms and government entities in more than 15 countries.

China maintained restrictions on fertilizer exports, with industry sources saying the limits were not expected to lift before August; the curbs were estimated to restrict roughly half to three-quarters of China's fertilizer exports and could affect up to 40 million metric tons.

Reuters reported a large-scale cyber espionage campaign exploiting a SharePoint zero-day; Microsoft said active attacks were targeting self-hosted SharePoint servers and multiple organizations were affected.

USDA's Food Price Outlook noted farm-level wheat prices fell 12.3 percent from May to June 2026 after a 14.7 percent increase in the prior month, indicating continued abnormal volatility in staple grain pricing.

Vessel traffic fell sharply, with only 53 transits in the week through July 20 and tanker/gas carrier crossings dropping to 30, indicating a severe maritime chokepoint disruption.

Shipping activity remained heavily suppressed after renewed U.S.-Iran conflict, with daily crossings dropping into single digits on July 16 and traffic running near 15% of pre-war levels.

S&P Global said commodity prices had partially retreated from Q2 2026 peaks, but warned that the market remained vulnerable to renewed Strait of Hormuz disruption, with upside risk for oil, chemicals, sulfur, helium, and aluminum shortages.