The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0904 ET - Oil futures edge up as President Trump says the U.S. will step up attacks on Iran tonight and plans to take control of Iran's Kharg Island and other key oil infrastructure "in the not too distant future." Prices were lower earlier despite further overnight strikes by the U.S. "The market is paying attention to the reported increasing flows through the Strait of Hormuz and ignoring the escalation of hostilities again as the net effect of them are meaningless for the new supply-demand regime where demand has been crushed in places like India and China," TP ICAP's Scott Shelton says in a note. WTI is up 0.6% at $90.60 and Brent is 0.3% higher at $93.40. (anthony.harrup@wsj.com)
0859 ET - Treasury yields and the dollar rise amid hotter-than-expected U.S. wholesale inflation and as President Trump renews military threats against Iran. May PPI was 1.1%, matching April's advance and beating WSJ consensus of 0.7%. Weekly jobless claims accelerate to 229,000 from 225,000, consensus was 220,000. President Trump posts on Truth Social that the U.S. will be hitting Iran "VERY HARD TONIGHT." Oil prices rise less than 1%. The WSJ Dollar Index is up 0.1%. The 10-year yield rises to 4.544% from 4.523% before Trump's post and the data. The two-year rises to 4.148% from 4.125%. (paulo.trevisani@wsj.com; @ptrevisani)
0847 ET - Most-active CBOT grain futures are lower ahead of the WASDE report due at noon eastern. Analysts are maintaining a mostly neutral outlook for the WASDE, as big changes to production and yield figures are not typically seen in June reports, says analysts with Hedgepoint Global in a note. The market will also be watching for Brazilian crop agency Conab's report covering Brazilian crops to get a better sense of what the world supply/demand picture may look like. Corn falls 0.5%, soybeans inch 0.1% lower, and wheat is down 0.3%. (kirk.maltais@wsj.com)
0614 ET - Palm oil ended higher, with the Bursa Malaysia Derivatives contract for August delivery rising 17 ringgit to close at 4,555 ringgit a metric ton. CPO prices were driven by overnight gains in rival oils and recent stronger export data, Kenanga Futures analysts said in a note. Malaysia's palm oil exports for June 1-10 are estimated to have risen 4.9% on month, according to cargo surveyor AmSpec Agri Malaysia. A weaker Malaysian ringgit could have also supported further bargain-hunting activities, they add. The brokerage pegs support and resistance for the August futures contract at 4,500 ringgit a ton and 4,630 ringgit a ton respectively.(amanda.lee@wsj.com)
0405 ET - Demand for monetary hedges and physical gold are likely factors supporting the outlook for bullion, say State Street Investment Management strategists. While spot gold prices may face near-term struggles amid oil-driven volatility, structural demand for the precious metal persists. Gold is likely a potential hedge against duration exposure and currency debasement, as debt and inflation keep long-term yields higher, they say. Global demand for physical gold, meanwhile, from Chinese retail to central banks could further support prices, they add. State Street expects gold prices to be $4,750-$5,500 a troy ounce this year in its base scenario, while its bull case sees $5,500-$6,250. Spot gold is 0.7% higher at $4,100.44 an ounce. (megan.cheah@wsj.com)
0350 ET - Gold prices continue to retreat as investors assess the U.S. monetary policy outlook. In early trading, New York futures fall 0.1% to $4,129.60 a troy ounce and are down more than 8% on the week. "While geopolitical uncertainty and central bank buying continue to offer longer-term support, near-term price direction is likely to remain closely tied to U.S. economic data, Treasury yields and expectations for Federal Reserve policy," analysts at ING say. After U.S. consumer prices rose at their fastest rate in three years in May, traders now await the release of PPI data later on Thursday. (giulia.petroni@wsj.com)
2322 ET - Gold still has scope to fall further, based on the weekly chart, says Quek Ser Leang of UOB Global Economics & Markets Research in a note. Weekly stochastics have yet to reach oversold levels, although the precious metal's recent sharp decline seems excessive, the senior technical strategist says. Gold is falling toward another firm weekly support level at the top of the weekly Ichimoku cloud, which is currently at $3,974 per ounce, he notes. The pace of gold's decline could slow should gold enter this cloud, the strategist adds. Spot gold is 0.1% lower at $4,065.29 per ounce. (ronnie.harui@wsj.com)
2244 ET - Palm oil rises in Asian trading, driven by stronger export demand and lower crude palm oil production in Malaysia, PhillipCapital says in a note. Malaysia's palm oil exports for June 1-10 are estimated to have risen 4.9% from the same period last month, according to cargo surveyor AmSpec Agri Malaysia. A weaker ringgit is also seen supporting crude palm oil demand as it makes the commodity cheaper in foreign currency terms, 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 4,567 ringgit a ton. (yingxian.wong@wsj.com)
2229 ET - Iron ore prices across different futures contracts are mixed in early Asian trade, with the most-traded contract on the Dalian Commodity Exchange 0.3% lower at 765.5 yuan a ton. Global iron-ore shipments remain elevated, weighing on the ferrous metal's prices, Nanhua Futures says in a note. Although shipments from Brazil are relatively softer, exports from other non-mainstream mines have increased, they note. Chinese steel mills' profits are contracting as current steel prices are close to costs. However, thin margins haven't resulted in production cuts, keeping molten iron production stable as well, Nanhua adds. (sherry.qin@wsj.com)
2201 ET - UBS wonders whether BHP's incoming CEO, Brandon Craig, needs to rethink metallurgical coal's role in the miner's portfolio. BHP says it won't invest in the business due to an onerous royalty structure in Australia's Queensland state, where it mines. "We believe some investors question whether the new CEO should explore alternative strategies especially as holding (not investing in) depleting assets typically results in cost challenges and impacts value medium-term," UBS says. Valuations achieved in recent metallurgical-coal asset sales have been attractive, and the royalty structure in Queensland is unlikely to change until at least 2032, the bank says. UBS has a neutral rating and A$60.00 target on BHP. Shares are up 0.3% at A$60.35. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2148 ET - Malaysian palm oil stocks could rise 5.8% on month to 2.57 million tons in June, as production and imports outpace exports and domestic consumption, CIMB Securities analyst Ivy Ng Lee Fang says in a note. Despite higher stockpiles, she expects crude palm oil prices to remain elevated, supported by firm crude oil prices, higher biodiesel mandates and supply concerns linked to El Nino risks, rising fertilizer costs and Indonesia's export controls. CIMB maintains an overweight rating on Malaysia's plantation sector and keeps its 2026-2027 CPO price forecasts at 4,400 ringgit/ton and 4,500 ringgit/ton, respectively. (yingxian.wong@wsj.com)
2128 ET - Crude palm oil prices are expected to rise in 2H, supported by a potential strong El Nino and elevated prices for rival soybean and rapeseed oils, driven by rising biofuel consumption, CGS International analysts Jacquelyn Yow and Prem Jearajasingam say in a note. They expect inventories to ease in June, helped by tighter export availability from Indonesia and higher domestic consumption under Malaysia's B12 biodiesel program. CGS maintains an overweight rating on the Malaysian plantation sector, adding that upstream producers like TA Ann, Hap Seng Plantations and SD Guthrie are key beneficiaries of sustained CPO strength. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
June 11, 2026 09:15 ET (13:15 GMT)
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