The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0632 ET - Palm oil ended slightly lower amid weak exports. Malaysia's palm oil exports during the April 1-30 period are estimated to have fallen 16% on month at 1,346,859 metric tons, cargo surveyor AmSpec Agri Malaysia said Thursday. There has been an absence of fresh demand signals from key importing countries, Kenanga Futures says in a note. Higher crude oil prices amid concerns about renewed U.S. military actions against Iran and a prolonged blockade of the Strait of Hormuz likely limited the losses of the vegetable oil. The Bursa Malaysia Derivatives contract for July delivery ended 5 ringgit lower at 4,573 ringgit a ton. (sherry.qin@wsj.com)
0534 ET - Copper prices rise, supported by restocking efforts ahead of the Labor Day holiday in China despite broader concerns over the impact of the Iran war on demand. "Buying ahead of the Labour Day holiday has provided near-term support following the recent pullback," analysts at ING say. However, "the focus remains on the Iran conflict and potential implications for global growth [...] in particular, risks to energy flows through the Strait of Hormuz, which continue to cap upside." In mid-morning European trading, copper three-month futures on the London Metal Exchange rise 0.8% to $13,093 a metric ton, but are still headed for a weekly loss of more than 2.5%. (giulia.petroni@wsj.com)
0335 ET - Gold prices rebound, but remain on track for a weekly loss as elevated oil prices fuel concerns over higher interest rates for longer. In early European trading, futures in New York rise 0.9% to $4,604 a troy ounce after settling lower in the previous session. "Dip-buying emerged after a three-day decline," says Soojin Kim from MUFG. However, "rising Treasury yields further pressured gold, while the ongoing Middle East conflict, now in its ninth week, continues to fuel inflation risks through elevated energy prices and the near-total shutdown of the Strait of Hormuz." Meanwhile, the Federal Reserve held interest rates steady on Wednesday, with officials split on the path ahead. (giulia.petroni@wsj.com)
0316 ET - Glencore's trading unit is unlikely to top its 2022 performance but the potential is there, RBC Capital Markets analyst Ben Davis writes. The commodities company says full-year adjusted earnings before interest and taxes could be comfortably ahead of its long-term guidance range of between $2.3 billion and $3.5 billion a year. Its traders are capitalizing on dislocations across the crude oil markets, and the conflict could start impacting gas and coal markets too, Davis writes. This would offer even more opportunities for Glencore's traders. Shares rise 0.4% to 555.30 pence. (adam.whittaker@wsj.com)
2312 ET - IOI Corp. earnings could be supported by higher crude palm oil prices, RHB IB analyst Hoe Lee Leng says in a note. Crude palm oil is expected to stay firm at 4,200 ringgit to 4,500 ringgit a ton if the Middle East cease-fire holds and geopolitical tensions don't escalate, she says. Indonesia's shift to a higher proportion of palm oil in biodiesel is likely to keep global vegetable oil supplies tight, supporting CPO prices, she reckons. Supply risks from a potential El Nino later this year could provide further support to CPO prices, she adds. Hoe raises IOI's FY 2026-FY2028 earnings forecasts by 6%-15%. RHB raises IOI's target price to 5.35 ringgit from 4.85 ringgit, while maintaining a buy rating on the stock. Shares are 0.9% higher at 4.30 ringgit. (yingxian.wong@wsj.com)
2257 ET - Iron-ore prices are higher in early Asian trade but will likely remain volatile in the near term. While demand is relatively stable, China's overseas shipments of the steelmaking material remain robust and could continue to rise, Baocheng Futures says in a note. Meanwhile, China's domestic mines are in active production mode, keeping supply elevated, it says. Iron-ore prices are likely to come under pressure from the increased supply, but will likely fluctuate at high levels, it adds. The most actively traded September iron-ore contract on the Dalian Commodity Exchange is up 0.5% at CNY788.0 a ton. (sherry.qin@wsj.com)
2239 ET - Palm oil prices rise in Asian trading, driven by stronger soybean oil prices overnight on the Chicago Board of Trade, PhillipCapital says in a note. Palm oil prices are also supported by a weaker ringgit, as it makes the commodity cheaper in foreign currency terms, it adds. PhillipCapital pegs resistance at 4,680 ringgit a ton and support at 4,434 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery is up 4 ringgit at 4,582 ringgit a ton. (yingxian.wong@wsj.com)
2116 ET - Copper rises in Asian trade. Signs of stronger demand in China could be fueling the metal's gains, say ANZ Research analysts in a note. Fabricators have been increasing their restocking efforts ahead of Friday's Labor Day holiday, they note. Still, the price increase could be capped by rising risks to global growth stemming from the Middle East conflict, they add.The three-month copper contract on the London Metal Exchange rises 0.2% to $13,026.50 a metric ton.(megan.cheah@wsj.com)
1934 ET - Gold edges higher in early trade on a likely technical recovery after front-month gold futures settled 1% lower overnight. However, gold-price's gains are likely to be capped by ongoing concerns over higher inflation stemming from higher oil prices caused by the U.S.-Iran conflict. Fed Chair Powell also warned that inflation would likely rise in months to come. Rising oil prices and a firmer rate outlook have weighed on the precious metal, Critical Metals' Tony Sage says in an email. "This dynamic has supported Treasury yields and the U.S. dollar, weighing on non-yielding assets such as gold," the CEO adds. Spot gold is 0.2% higher at $4,551.92 per ounce. (ronnie.harui@wsj.com)
1725 ET - Traders weren't really interested in what Bank of Canada Gov. Tiff Macklem was saying about the decision to hold rates steady, says Derek Holt, economist at Bank of Nova Scotia. The BOC's communications, he argues, were "stale on arrival," with traders instead eyeing higher interest rates due to sharply higher oil prices on fresh trouble in the U.S.-Iran conflict. Expectations for at least two rate hikes in Canada rose in overnight-index swap trading, with Brent and WTI trading above $100 a barrel. Holt says Macklem opening the door to future rate changes -- both hikes and cuts -- suggests the probability of policy change is higher. (paul.vieira@wsj.com; @paulvieira)
1521 ET - Most-active lean hog futures close up 1.7% to $1.03725 a pound. Hogs appear to be getting a lift from gains into record-high territory in cattle, although fundamentally the contract is seen as having further downside, says Joe Davis of Futures International in a note. "Technical indicators continue to favor the bears," says Davis. "Market participants are watching for demand improvements and seasonal trends to stabilize prices." Live cattle futures settle at a record-high close of $2.551 a pound, a 0.6% uptick. (kirk.maltais@wsj.com)
1513 ET - Oil futures rise with front-month Brent testing a four-year intraday high on prospects of a prolonged standstill in U.S.-Iran negotiations. "All parts of the energy complex appear poised for higher prices with an eventual price top still difficult to define," Ritterbusch & Associates says in a note. U.S. inventory data added upside pressure with large draws in crude and products stocks and a record 6.4 million b/d in crude exports. "While this strong pace may be difficult to maintain amid loading and logistical issues, we feel that exports have shifted into a new and higher trading range," Ritterbusch adds. WTI settles up 7% at$106.88 a barrel and Brentrises 6.1% to $118.03.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 30, 2026 09:15 ET (13:15 GMT)
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