Daily Update — July 13, 2026
Atlas of Food; Emerging Market Output Resilience; and Rating Data Centers
Today is Monday, July 13, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Supply Chain
Atlas of Food
Global food prices are a critical driver of inflation and consumer price indexes. The “Atlas of Food” report from S&P Global Energy illustrates the interconnection of the agricultural supply chain, with the cost of end products heavily dependent on foundational inputs, including feed grain and fertilizer. Corn and soybean demand has accelerated due to the rising per capita consumption of proteins such as pork, which requires over 2 kilograms of feed per kilogram of meat. In comparison, aquaculture is the most efficient among animal proteins, with a 1.5-1 feed conversion ratio for shrimp.
This edition also introduces a section on sugar, one of the most produced and widely consumed commodities globally. Governments around the world are placing sugar under intense scrutiny, balancing food security, farmer support, public health goals, trade protections and biofuel ambitions.
Economics
Emerging markets show greater war resilience to outpace advanced economies
Global economic growth picked up slightly in June, with the Global Composite Purchasing Managers’ Index rising to 52.0 from 51.9 in May, though momentum remains subdued compared with levels at the start of the year. While the Middle East war has dampened developed markets, emerging markets have been highly resilient, outperforming the developed world to the greatest extent since 2024.
Trends vary markedly between advanced economies. Japan registered the highest growth since March and the US sustained a modest expansion, while the eurozone largely stalled, and the UK and Canada slipped into decline.
Among major emerging markets, India remains the top performer despite a recent slowdown, mainland China reported its strongest quarterly expansion in three years and Brazil returned to growth. Meanwhile, Russia’s output dropped for a fourth consecutive month.
Artificial Intelligence
Decoding Data Center Risk: A Multi-Dimensional Analysis
Data centers are unique in project finance, combining real estate, infrastructure and technology risks, all of which are crucial to S&P Global Ratings’ assessments. While data centers may have durable buildings and reliable core systems, rapid advances in technology often shorten their competitive economic life to about 25 years. The sector’s risk profile has evolved, with newer financing structures with minimal amortization introducing greater refinancing and reletting risks.
Historically, data centers featured stable, long-term leases with investment-grade tenants and minimal reletting risk, but today’s projects face higher uncertainty. Reletting risk is now a central concern, influenced by factors such as location, facility type and tenant strategy. Stronger financial cushions are required to achieve investment-grade ratings when reletting risk is high.
In case you missed it
- The 1-gigawatt Dama solar farm in Romania signals a renewables boom in Eastern Europe and marks a significant milestone for the region’s energy transition.
- China’s decision to end some electric vehicle tax breaks is expected to have a minimal impact on lithium demand, according to market analysts.
- Germany faces exposure to gas shortfalls if the upcoming winter proves extremely cold, raising concerns about energy security.
Upcoming events
- Proving the AI ROI through Entity Resolution | July 14 (Webinar)
- Oil Markets, Price Forecasting & Commercial Strategies | July 21–23 (London)
- After conflict, before talks: Supply chain outlook for Q3 2026 and beyond | July 21 (Webinar)