The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0624 ET - Crude palm oil ended lower for another session, weighed by persistent weakness in the Chicago soybean oil market, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Recent weakness in export demand is also pressuring prices in the near term, he says. Ng sees prices of palm oil supported above 4,480 ringgit a ton and resistance at 4,750 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery was 47 ringgit lower at 4,554 ringgit a ton. (tracy.qu@wsj.com)
0334 ET - Gold prices trade below $4,450 a troy ounce and are on track for a weekly loss as uncertainty surrounding U.S.-Iran peace talks and renewed hostilities in the Middle East weaken investor sentiment. Concerns over sustained disruptions to energy shipments through the Strait of Hormuz have supported higher oil prices and heightened inflation risks, strengthening prospects of higher-for-longer interest rates or potential hikes that would weigh on non-yielding assets. "Energy analysts warn that rapid inventory drawdowns from the Strait of Hormuz closure are likely to deliver fuel price shocks, with prices across the energy complex expected to remain higher for longer," analysts at Saxo Bank say. New York gold futures are down 0.3% to $4,492.70 an ounce. (giulia.petroni@wsj.com)
0317 ET - Comex gold futures' bearish technical setup looks intact, based on the daily chart, RHB Retail Research's Joseph Chai says in a report. Although the latest bullish candlestick pattern shows that selling pressure is taking a "minor breather," the overall technical setup remains bearish, the analyst says. The futures are staying below both the 20-day and 50-day simple moving averages, Chai notes. Th nearest support for the commodity is expected at $4,400 an ounce, while initial resistance is pegged at $4,650 an ounce, the analyst adds. Spot gold is 0.4% lower at $4,457.36 an ounce. (ronnie.harui@wsj.com)
0046 ET - China's recent import surges are "hardly a sign of rebalancing," according to BofA Securities. It notes that Chinese goods imports have rebounded sharply this year, rising 24% on year in January to April. But the growth is largely price-driven and narrowly concentrated in select categories, especially semiconductors and gold, BofA writes in a research note. Import volumes of semiconductor chips are broadly stable, while unit prices have risen sharply, especially in the memory market, it notes. Demand remains weak overall, it says. More policy support is likely if domestic indicators weaken further, BofA adds. (tracy.qu@wsj.com)
0001 ET - The appointment of an interim CEO at Lynas Rare Earths highlights the complexity of the role, says Macquarie. The job requires "not only operational and strategic capability but also strong stakeholder management amid heightened geopolitical dynamics," the bank says. Lynas has appointed Chief Operating Officer Pol Le Roux as interim CEO as incumbent Amanda Lacaze prepares to step down. Macquarie calls Le Roux a pair of "safe hands operationally," as one of the miner's most experienced executives. The appointment of a permanent CEO will nevertheless be a near-term focus for investors, alongside the ramp up of the Kalgoorlie plant, says Macquarie. Lacaze's successor has "big shoes to fill," it says. Macquarie has a neutral rating and a A$20.00 target on Lynas. Shares are down 2.4% at A$18.27. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2348 ET - Satellite images show significant progress at BHP's Jansen potash project over the past year, UBS says in a note to clients. The storage areas and processing plant appear to be largely complete, it says. Progress on the second-stage expansion appears limited, with only the foundations for the second processing plant visible, the bank says. "Whilst the delayed and more expensive build has been frustrating for shareholders, we continue to see Jansen as a tier-1 asset with first-quartile cost position and long life with attractive economics," UBS says. It has a neutral rating and A$60.00 target on the stock. BHP is down 2.2% at A$61.44. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2311 ET - Gold prices are lower in early Asia trade as expectations for higher U.S. interest rates continue to weigh, CITIC Futures analysts say in a note. Hopes for U.S.-Iran talks have also reduced safe-haven demand, they say. Investors are closely watching U.S.-Iran negotiations and U.S. nonfarm payrolls report due later Friday, they say. Spot gold is 0.8% lower at $4,440.20 a troy ounce. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
2303 ET - Iron ore is lower in early trade. Supply from Australia has increased in recent weeks, which has pushed global supply levels higher, say Nanhua Futures analysts in a research note. That said, overall demand remains well-supported, suggesting limited downside for iron ore prices, they say. The most-traded iron ore contract on the Dalian Commodity Exchange is down 0.7% at 767.5 yuan a ton. (tracy.qu@wsj.com)
2244 ET - Deep Yellow gains a bull in Jefferies after a recent tumble in its share price. The stock has almost halved from its January peak. Jefferies says it views Deep Yellow as a "cleaner near-term exposure" to uranium prices than some of its producing ASX rivals, which are facing operational challenges. It upgrades the stock to buy from hold. It keeps a A$1.90 target. Shares are up 3.4% at roughly A$1.60. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2235 ET - Palm oil falls in Asian trading, weighed by lower soybean oil prices overnight on the Chicago Board of Trade, PhillipCapital says in a note. Lower crude oil prices are also pressuring crude palm oil prices as weaker oil markets decrease palm oil's appeal as a biofuel alternative, it adds. PhillipCapital expects prices to face resistance at 4,680 ringgit a ton and find support at 4,350 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery is 29 ringgit lower at 4,572 ringgit a ton. (yingxian.wong@wsj.com)
2124 ET - The Malaysian plantation sector's near-term earnings outlook should remain supported by firm crude palm oil prices and resilient fresh fruit bunch output, despite rising cost pressures linked to Middle East tensions, Hong Leong IB analyst Chye Wen Fei says in a note. She expects CPO prices to stay elevated at 4,500 ringgit-4,600 ringgit a ton in 2Q before moderating from 3Q onward. However, she cautions that the current earnings upcycle is likely to be front-loaded, with medium-term risks stemming from supply-side adjustments in competing vegetable oils. Hong Leong maintains an overweight rating on the Malaysian plantation sector, pegging Johor Plantations and SD Guthrie as top picks as purer upstream planters that have already locked in their fertilizer cost this year. (yingxian.wong@wsj.com)
2114 ET - Base metals fall in Asian trade. Markets could be unwinding a portion of technically driven gains, say Sucden Financial analysts in a note, noting that a firmer dollar could have prompted profit-taking. The complex could also be weighed by renewed escalation of fighting in the Middle East, say ANZ Research analysts. The three-month copper contract on the London Metal Exchange drops 0.9% to $13,804.00 a metric ton. Aluminum falls 0.5%, nickel declines 0.85% and zinc sheds 0.65%.(megan.cheah@wsj.com)
(END) Dow Jones Newswires
June 05, 2026 09:15 ET (13:15 GMT)
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