The Logistics Report newsletter won’t publish on Monday, July 4, the Independence Day holiday in the U.S. Look for the next newsletter on Tuesday, July 5.

West Coast port labor talks are entering a new and potentially troublesome phase. The contract covering some 22,400 dockworkers at 29 ports is expiring, and the WSJ Logistics Report’s Paul Berger writes the changeover in the calendar raises the bargaining stakes. The International Longshore and Warehouse Union and port employers have issued a joint statement pledging labor peace, and no strike or lockout as the talks continue. Importers and shipping-sector officials remain concerned about possible slowdowns in cargo handling at major trans-Pacific trade gateways. Some shippers are already rerouting goods from the ports of Los Angeles and Long Beach to the East Coast to minimize risks heading into the peak fall shopping season. For now, the union can either extend the agreement while talks continue or have members work without a contract, and without guardrails against potential work slowdowns.

Good growing weather and a rush of Russian grain ships through the Black Sea are calming concerns in global wheat markets. Benchmark wheat prices are down by more than a quarter from their highs after Russia invaded Ukraine, the WSJ’s Yusuf Khan and Will Horner report, providing a welcome sign for vulnerable countries that have been struggling with surging food costs. The improving outlook comes as the U.S., Europe and Australia are raising expectations for plentiful end-of-summer harvests thanks to the right mix of sun and rain. Russia is also expected to produce a record wheat crop, and the country is taking advantage of its blockade of Ukrainian shipments to fill more bulk vessels with its own products. Russian wheat exports were up 80% in April over last year and rose 27% in May. One measure suggests declining wheat prices are filtering into the prices of staple foods.

The General Motors supply chain for its new electric pickup truck and related SUV is hardly humming. The wait list for the electric update of the GMC Hummer recently topped 77,000 prospective buyers, the WSJ’s Mike Colias reports, while the renovated factory where the vehicle is built is producing around a dozen Hummers a day. Experts say that’s an unusually slow pace for a vehicle in production for more than six months. It also trails output for rival offerings from Ford and Rivian Automotive, highlighting the tough competition in the developing consumer market for electric vehicles. GM says production is on schedule and ramping up slowly because the truck was developed from scratch using a new electric-vehicle platform. The company expects output to increase sharply later this year as it begins using its own battery cells from a new Ohio factory built with joint-venture partner LG Energy Solutions.

U.S. household spending eased to its slowest pace this year in May. (WSJ)

Economic activity in China expanded in June after three straight months of contraction. (WSJ)

New applications for unemployment benefits in the U.S. inched down closer to pre-pandemic levels. (WSJ)

The Supreme Court curtailed the Environmental Protection Agency’s powers to restrict greenhouse-gas emissions from power plants. (WSJ)

Quarterly sales and earnings at Walgreens Boots Alliance fell as demand for Covid-19 tests and vaccines dropped significantly. (WSJ)

Exxon Mobil is selling its Canadian shale gas business for roughly $1.5 billion. (WSJ)

RH became the latest furniture retailer to cut its financial targets as consumers pull back on purchases of goods such as sofas and beds. (WSJ)

Total worldwide production at major Japanese automakers declined for a third straight month in May. (Nikkei Asia)

Big ship owners are planning dual-fuel methanol propulsion for their next round of container ship orders. (TradeWinds)

A local board voted to allow the Port of Oakland’s Howard Terminal to be converted to a sports and residential complex.  (ABC7)

India’s sovereign wealth fund is buying a minority stake in DP World’s ports business in the country for $300 million. (Splash 247)

Project44 says ocean container lines are canceling port calls at a faster pace as demand declines. (The Loadstar)

The McCown Report says outbound U.S. container volumes fell year-over-year in May for the 12th straight month. (Seatrade Maritime)

Logistics optimization firm Logility acquired supply-chain network-design technology company Starboard Solutions. (DC Velocity)

U.K. green supply-chain startup Circulor raised $25 million in a Series B funding round that includes the venture arms of Volvo Cars, Jaguar Land Rover and miner BHP. (Axios)

Danish freight forwarder Scan Global Logistics acquired Hong Kong-based Sea-Air Logistics. (Air Cargo News)

Singaporean craft brewer Brewerkz is selling beer made from recycled sewage. (Japan Times)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.