The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0401 GMT - 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)
0348 GMT - 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)
0311 GMT - 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)
0303 GMT - 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)
0244 GMT - 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)
0235 GMT - 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)
0124 GMT - 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)
0114 GMT - 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)
1938 GMT - Oil futures pull back after three straight sessions of gains, with a tentative ceasefire agreement between Israel and Lebanon suggesting possible support for U.S.-Iran talks. "The problem is that Iran-backed Hezbollah is not part of the agreement," Arlan Suderman of StoneX says in a note. Recent data show some ships getting through the Strait of Hormuz, he notes. "The increased passages does not come close to erasing the energy deficit, but it does help for the time being. Nor do we see production being restored in the region." WTI settles down 3.1% at $93.04 a barrel. Brent falls 2.8% to $95.03.(anthony.harrup@wsj.com)
1930 GMT - U.S. natural gas futures post back-to-back gains with support from a hotter weather outlook and a below-average build in inventories. The 95 Bcf net storage injection for last week "kept the narrative intact that storage builds are no longer running away from the market," Gelber & Associates says in a note. "Warming forecasts are beginning to translate into a more credible cooling demand story, and the market has become more sensitive to any sign that injections are not rebuilding inventories as quickly as normal heading into summer." Nymex natural gas settles up 3.8% at $3.336/mmBtu. (anthony.harrup@wsj.com)
1733 GMT - The export sales report from the USDA showed only light sales of U.S. soybeans to China, putting pressure on CBOT futures. "Soybeans and grains are selling off on the fear of 'no' China," says AgResource. The firm adds that it does "not see such concerns as valid," even with the new U.S. tariffs proposed under Section 301 this week. Most-active CBOT soybeans are down 2.8% to $11.21 a bushel today, while corn sinks 2.3% and wheat is off 1.2%. (kirk.maltais@wsj.com)
1613 GMT - Oil prices are lower as a tentative ceasefire agreement between Israel and Lebanon lifts hopes for U.S.-Iran negotiations. "These on-again, off-again developments keep the market on edge," Phil Flynn of the Price Futures Group says in a note. "Geopolitical risk is still the dominant driver, but any sign of de-escalation brings quick selling pressure as traders take profits." Even if a framework for a deal is reached that could reopen the Strait of Hormuz, "analysts (including myself) caution that full normalization of flows could take months due to logistical, de-mining, and verification hurdles," Flynn adds. WTI is off 3.1% at $93.04 and Brent is down 2.8% at $95.08. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 05, 2026 00:15 ET (04:15 GMT)
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