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Daily Update — July 23, 2026

Malaysia Data Center Reset; Ukraine Corn Trade Stalls; and Asian LNG Pressure

Today is Thursday, July 23, 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.

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Data Center

Malaysia's Data Center Outlook: A Reset For Sustainable Growth

 

Malaysia’s data center sector is transitioning from rapid expansion to sustainable growth. Tougher regulatory approvals and higher utility costs will prioritize data center quality over quantity, giving the country time to expand its power and water resources.

 

Demand will persist through this reset, given Malaysia's location and other supportive factors, according to S&P Global Ratings. Still, the country will have to overcome execution risks such as delays in planned power or water rollouts. Funding is another critical issue, as the financing needs are likely greater than domestic banks can accommodate.

Global Trade

Ukraine corn trade stalls as port attacks disrupt shipments, deter buyers

 

Ukraine's corn market has stalled as repeated attacks on ports and infrastructure delay shipments, limit ship availability and weaken buyer interest. Spot trade from the region has effectively stopped, with buyers increasingly turning to alternative origins amid uncertainty over freight and execution risk. Several corn shipments to destinations including Turkey have been delayed following the attacks.

 

Traders said a missile struck the Golden Leo cargo ship, which was carrying about 8,000 metric tons of corn. According to the Indian government, the ship was attacked while departing the port of Odesa. "India condemns such attacks and reiterates that targeting commercial shipping and endangering innocent civilian crew members, or otherwise impeding freedom of navigation and commerce, is deplorable and should be avoided," India’s Ministry of External Affairs said.

Oil & Gas

Listen: Asian LNG under pressure: what comes next for prices amid the Middle East conflict?

 

Asian LNG markets are facing renewed pressure as the Iran war raises concerns over supply security and shipping through the Strait of Hormuz. With the initial price shock now absorbed, the focus is shifting to the next phase of the crisis: how the supply-demand balance is evolving and which market signals will drive price.

 

In this episode of the “Commodities Focus” podcast, S&P Global Energy experts Cindy Yeo, Suyash Pande and James Taverner joined host Jaime Wong to examine the market’s initial response, the supply-demand outlook for Asian LNG, and what the developments could mean for spot and forward prices.

In case you missed it

  • New UK Prime Minister Andy Burnham has yet to lay out a North Sea oil and gas policy, but he has pledged to “safeguard sovereign manufacturing and production capability in critical sectors.” 
  • China continues to buy US soybeans, but global market participants believe that remaining tariffs are limiting more substantial purchases.
  • The price of Brazil-origin boneless chicken breast exports to destinations across the Americas declined in recent weeks, pressured by weaker demand, increased supply in some markets and growing buyer caution.

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