The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0328 GMT - Iron ore prices are lower in early Asian trading. Prices are under pressure due to a sudden surge in exports from Guinea's Simandou iron ore project, according to ANZ research analysts in a commentary. That said, the downside of the black metal's price are limited in the near term due to high shipping costs, Nanhua Futures analysts say in a commentary. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 1.7% at CNY768.5 a ton. (tracy.qu@wsj.com)
0307 GMT - Cisarua Mountain Dairy will continue to outperform its peers, with Ebit projected to grow around 22% through 2028, Nomura analyst Heng Siong Kong says. Key drivers include significant expansion of its distribution network and planned capacity additions, supporting the company's earnings trajectory. The bank raises its target price for the stock to 9,250 rupiah from 9,150 rupiah, while maintaining its buy rating. Shares are down 3.5% at 4,380 rupiah. (venkat.pr@wsj.com)
0307 GMT - Rabobank expects firmer wheat and barley prices ahead, supported by tighter markets. Weather-related challenges in the U.S., Eastern Europe and Australia, combined with elevated production costs, are curbing planted area and fertilizer use, Australia-based analyst Vitor Pistoia says in a monthly report. "The 2026 season is expected to produce lower grain volumes compared with recent years, resulting in a tighter global supply-demand balance and, consequently, better underlying price support," he says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0241 GMT - Palm oil prices fall in Asian trading, weighed by lower soybean oil prices overnight on the Chicago Board of Trade as well as weaker crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Uncertainty over Indonesia's crude palm oil export policies, increasing competition from other vegetable oils and recent weakness in CPO demand also weigh on market sentiment, he adds. Ng expects prices to face resistance at 4,720 ringgit a ton and find support at 4,550 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery is 32 ringgit lower at 4,645 ringgit a ton. (yingxian.wong@wsj.com)
0159 GMT - Recent copper-price strength appears to be U.S. "tariff-driven more than positioning-driven," says Sucden Financial. The Commerce Secretary has until June 30 to update President Trump on U.S. copper markets, after which the President could consider tariffs on refined metal. The deadline "continues to distort flows, with more metal being pulled toward U.S. ports," Sucden Financial says. The Commodity Futures Trading Commission's Commitments of Traders report "shows funds reduced net length, which suggests the move is not yet just crowded speculative buying," it says. Copper briefly traded above $14,000/metric ton. The broker reckons buying ahead of the deadline will continue to support copper near term. "But copper now needs to hold the breakout rather than just spike through it," it says. Copper is down 0.6% at $13,744.50. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0115 GMT - Copper edges lower in early Asian trade, with the benchmark three-month LME contract on the London Metal Exchange down 0.2% at $13,798.00 a ton. There are concerns that the Middle East conflict could temper signs of demand growth seen so far this year, ANZ Research analysts say in a note. Traders are also wary over possible U.S. tariffs on refined copper, ANZ adds. (amanda.lee@wsj.com)
0102 GMT - Malaysia's plantation sector could report a better 2Q, supported by sequentially higher crude palm oil prices and stronger production, Maybank IB analyst Ong Chee Ting says in a note. He expects earnings to recover from a seasonally weak 1Q, with CPO prices supported by elevated crude oil prices, higher biodiesel mandates in Indonesia and Malaysia and potential supply disruptions from Indonesia's policy changes. Ong turns tactically positive on Malaysian planters over a three-month horizon, citing clearer earnings visibility and lower regulatory risks compared with Indonesian peers. He remains neutral on Indonesia's growers due to policy uncertainty. Maybank rates SD Guthrie, Sarawak Oil Palms and Genting Plantations as preferred buys. (yingxian.wong@wsj.com)
0029 GMT - Gold rises in early trade amid a slightly weaker dollar that makes the U.S.-dollar denominated precious metal less expensive for potential investors. "Looking ahead, investors will closely monitor upcoming U.S. labor market data and developments in the Middle East for clues on the future path of monetary policy," FXEM's Abdelaziz Albogdady says in an email. Ongoing central bank purchases continue to provide an important source of structural demand for the precious metal, the market research & fintech strategy manager adds. Spot gold is 0.4% higher at $4,451.07 an ounce. (ronnie.harui@wsj.com)An intraday spike eased after President Trump said he talked to Israel's prime minister and Hezbollah. "Oil Futures Rise On Concerns About U.S.-Iran Talks -- Market Talk," at 3:01 p.m. ET on June 1, incorrectly said the spike didn't ease.
1945 GMT - The U.S. dollar has been getting stronger over the past month, with that trend continuing to put pressure on precious metals futures. Gold is maintaining a "bearish lean," says StoneX in a note, chopping around the $4,000 to $4,500 a troy ounce range while the market doesn't react much to the continued appetite for gold from international central banks. "Market remains range-bound with no confirmed directional edge," says the firm. The dollar index has gained on increasing inflation concerns stemming from the ongoing conflict in the Middle East. Front-month gold settled down 1.2% to $4,436.70/oz, while front-month silver fell 2.4% to $73.476/oz. (kirk.maltais@wsj.com)
1935 GMT - CME live cattle futures fall, with the most-active contract finishing down 0.8% to $2.3785 a pound. Live cattle has been on an extended slide, according to data from FactSet -- with cattle finishing lower in 8 out of the past 10 trading sessions. Livestock and grains both saw steep selling, with long positions held by funds being eaten into and creating downward pressure. "[Cattle] remains hard pressed to rally much," says Ross Baldwin of AgMarket.net. Lean hog futures rose back over the $1 a pound mark, to $1.01925 a pound. (kirk.maltais@wsj.com)
1910 GMT - Crude futures rise for a third consecutive session as a renewed exchange of fire between the U.S. and Iran raise tension and concerns that oil will be shut in for longer. "If the violence in the Middle East continues to increase and the timeline on a ceasefire agreement continues to expand further into the future, then eventually the market is going to trade through $100 sooner rather than later," Mizuho's Robert Yawger says in a note. "Every day the Strait of Hormuz is shut in, 11 million to 14 million bpd of oil fails to make it to market, and barrels are taken out of storage someplace else to compensate." WTI rises 2.4% to $96.02 a barrel and Brent rises 1.9% to $97.81.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 04, 2026 00:15 ET (04:15 GMT)
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