The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0355 GMT - Bumitama Agri's unit costs are likely to rise due to higher prices of fertilizer and diesel, RHB Research analysts say in a note. The palm oil producer now expects unit costs to increase around 10% this year versus 5%-10% projected previously. RHB maintains its target price of S$1.70. However, it upgrades the stock to neutral from sell, citing a fair valuation after a 15% share-price decline over the past two weeks. Shares are last up 1.6% at S$1.90. (amanda.lee@wsj.com)
0343 GMT - Copper fell on profit-taking, after topping $14,000 a metric ton. Nonetheless, market participants remain bullish on copper prices, thanks to long-term demand tied to artificial-intelligence infrastructure, grid modernization and the global energy transition, as well as supply constraints, Tony Sage, CEO of Critical Metals, says in a recent note. The copper market could be exposed to a potential supply deficit over the long term, which could support copper prices, he adds. China's export restrictions on sulfuric acid and Middle East sulfur supply disruptions could create further tightness in the copper market, he says. Three-month LME copper futures are down 1.6% at $13,924.50 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
0253 GMT - Palm oil prices fall in Asian trading, weighed by lower soybean oil prices overnight on the Chicago Board of Trade. Sluggish exports are also pressuring CPO prices, PhillipCapital says in a note. Ongoing trade discussions between President Trump and President Xi in Beijing could also impact CPO price sentiment through their influence on global trade flows and vegetable oil demand, it adds. PhillipCapital pegs resistance at 4,680 ringgit a ton and support at 4,350 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery is down 26 ringgit at 4,412 ringgit a ton. (yingxian.wong@wsj.com)
0240 GMT - Iron ore is lower in early Asian trading. While capital inflows into the broader black metals market have supported prices, iron ore's fundamentals are not strong enough to maintain current levels, according to Nanhua Futures analysts in a research note. Analysts also expect demand to be hurt by seasonal weakness. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 0.8% at 810.5 yuan a ton. (tracy.qu@wsj.com)
0058 GMT - Gold gains in the early Asian session. The yellow metal doesn't appear to be reacting one-dimensionally to U.S. consumer-price index data anymore, says Linh Tran at XS.com in a note, noting that rising inflation typically boosts Treasury yields and the dollar while weighing on gold. While the April data initially dragged down gold, the precious metal quickly recovered above $4,700 a troy ounce, suggesting that the market is beginning to reassess its role as a safe-haven asset and store of value, the analyst says. "In an environment where inflation is accompanied by geopolitical tensions, high energy prices, and growth risks, gold still has a strong foundation to maintain its appeal as a defensive asset," she says. Spot gold rises 0.3% to $4,701.90 an ounce. (megan.cheah@wsj.com)
2002 GMT - A procedural vote required to allow a vote on H.R. 1346, a bill that would allow for E15--gasoline blended with 15% ethanol-- to be sold nationwide year-round has passed, by a slim margin of 213-208 in the House of Representatives. The procedural measure allows for the E15 legislation to be detached from the 2026 Farm Bill and voted on separately. H.R. 1346, the Nationwide Consumer and Fuel Retailer Choice Act of 2025, is scheduled to be voted on by the House later today, with last votes expected at 5:30 p.m. ET, according to a daily schedule on House Majority Leader Steve Scalise's website. (kirk.maltais@wsj.com)
1932 GMT - Lean hog futures on the CME settle up 2.5% to $1.00875 a pound Wednesday, posting a big gain after settling lower in four out of the past five trading sessions. The uptick comes as the USDA reports an uptick in average carcass cutout at midday today -- rising $1.40 per hundredweight to $96.92 per cwt. The uptick at midday breaks a three-day losing streak for pork cutouts. Live cattle climbs 2% to $2.52725 a pound, rising as President Trump commences his summit with Chinese leader Xi. Beef is expected to be a topic discussed during the summit, potentially locking in more demand for U.S. exports. (kirk.maltais@wsj.com)
1930 GMT - Winter wheat crops in Texas and Oklahoma look poor, according to a report from the U.S. Wheat Associates. In a weekly report, the agency reports that harvesting of winter wheat has started in these states, and isn't looking good. A slow start is expected to harvesting in Texas due to "persistent drought, recent temperature swings and freeze damage." In Oklahoma, wheat crops are seen having "thin stands and low yield potential." CBOT wheat futures close down 0.6% to roughly $6.75 a bushel, still near highs last seen in June 2024. (kirk.maltais@wsj.com)
1903 GMT - Oil futures settle lower in a choppy session with no change seen in the situation around the Strait of Hormuz. The continued closure is pushing the market toward a tipping point, Hamad Hussain of Capital Economics says in a note. "The fact that oil inventories are still being drawn down shows that demand for oil is still outstripping supply," he says. If flows through the strait resume this month it could limit withdrawals and lead prices to fall back by year-end, but if the strait remains closed and stocks decline at the pace seen in April, oil stocks could reach critically low levels by the end of June. "That would be consistent with Brent crude prices reaching an all-time nominal peak, and could require more disorderly and economically damaging cuts to oil demand," Hussain adds. WTI settles down 1.1% at $101.02 a barrel and Brent falls 2% to $105.63. (anthony.harrup@wsj.com)
1900 GMT - U.S. natural gas futures inch higher ahead of weekly storage data that are expected to leave the surplus against the five-year average little changed. Analysts surveyed by The Wall Street Journal expect an 87 Bcf injection for last week, putting inventories 142 Bcf above the 2021-2025 average, versus the previous week's 139 Bcf surplus. "Two more supportive EIA storage reports are likely before triple-digit injections return in the end of May," Eli Rubin of EBW Analytics says in a note. "Seasonal upside is more likely in early summer than during the next 7-10 days leading into the typical physical market weakness of Memorial Day weekend." Nymex natural gas settles up 0.7% at $2.864/mmBtu. (anthony.harrup@wsj.com)
1825 GMT - Front-month silver futures finish up 4.4% to $88.89 a troy ounce, making it 8 sessions out of the past 10 they've gained. Today's close is the highest settle value in over 2 months. "The rally in AI stocks--and silver's growing use within the sector--is one reason investors are likely to continue supporting the move higher," says Peter Cardillo of Spartan Capital Securities. He thinks silver could soon test $100 an ounce or more. Front-month gold closes up 0.4% to $4,697.70/oz. (kirk.maltais@wsj.com)
1815 GMT - Corn and soybean futures on the CBOT are higher as traders murmur about a $30 billion-to-$50 billion trade package between the U.S. and China that might coincide with lowered import tariffs. The package would be part of a so called "Board of Trade" plan that came from the office of the U.S. Trade Representative. Such an agreement would benefit U.S. ag, says AgResource in a note. "The Board of Trade proposal could return U.S. ag trade with China to commercial terms," says the firm. Corn is up 0.5%, and soybeans rise 0.5%, while wheat falls 0.1%. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
May 14, 2026 00:15 ET (04:15 GMT)
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