The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
1536 ET - Live cattle futures on the CME settle up 1.3% to $2.397 a pound -- rising as crude oil futures fell and New World screwworm dominates discourse in the livestock sector. Throughout the course of the conflict in Middle East, live cattle has had an inverse relationship with crude oil -- based on the logic that energy-based inflation coming from higher prices for fuel will mean that consumers have less funds available to spend on high-cost proteins like beef. This relationship appears to have held true today, but is weighted by unforeseen reactions to the parasite's spread from U.S. trade partners, said the American Farm Bureau in a note. Lean hogs close down 1.2% to 96.175 cents a pound. (kirk.maltais@wsj.com)
1532 ET - Barclays maintains its 2026 price estimate for Brent at $100 a barrel, and sees the benchmark crude averaging $88 a barrel in 2027 "assuming freedom of navigation through the Strait of Hormuz is restored by the end of this month."The fragile ceasefire is largely holding despite some contained flare-ups, and there are signs of progress in talks to end the war, "but we are not there yet," Amarpreet Singh says in a note. If the reopening of the strait is extended to the end of July, Barclays sees Brent at $105 a barrel this year and $95 in 2027, and if it stays blocked through the end of August, then the price estimates rise to $110 and $105, respectively.(anthony.harrup@wsj.com)
1525 ET - U.S. natural gas futures end little changed as the market weighs strong demand this week against a cooler weather outlook for the second half of June. "Even with fundamentals trending modestly tighter, price action suggests traders remain focused on the prospect of moderating temperatures later in June and the market's ability to maintain strong production levels," Gelber & Associates says in a note. "Henry Hub may continue to find itself trading within its recent range despite supportive summer demand signals." Nymex natural gas settles down 0.2% at $3.140/mmBtu.(anthony.harrup@wsj.com)
1500 ET - Oil futures end the session lower in a choppy session with the market keeping alive hopes for a deal to end the Middle East conflict and reopen the Strait of Hormuz soon. President Trump's post saying the U.S. will respond to Iran's shooting down an Apache helicopter sent prices spiking briefly into the black. Iran's foreign minister posted on X that foreign forces close to Iran's territory are at risk on account of "their own human errors," accidents, or potentially being caught in crossfire. "We prefer the language of diplomacy but speak other languages too," he wrote. WTI settles down3.4% at $88.20 a barrel and Brent falls 3% to $91.45. (anthony.harrup@wsj.com)
1427 ET - Precious metal futures settled lower after President Trump posted on his Truth Social account that the U.S. would be retaliating to an attack made on an Apache helicopter patrolling the Strait of Hormuz. The incident and the threat of retaliation is giving fuel to the idea that interest rate hikes are more likely to curb rising inflation stemming from the ongoing closure of the Strait of Hormuz. Front-month gold futures have breached a 200-day moving average, says Suki Cooper of Standard Chartered Bank in a note. "We expect price action to become more vulnerable in the near term, driven by macro headwinds," says Cooper. Gold finishes down 1.8% to $4,260/oz, while silver falls 4.9% to $65.094/oz. (kirk.maltais@wsj.com)
1335 ET - Treasury yields and the dollar jumped after President Trump posted on Truth Social that Iran had downed a U.S. helicopter and, even though two pilots were safe, retaliation was a "necessity." The jump, however, was fleeting and both yields and the WSJ Dollar Index resumed their downward trend. The 10-year yield rose to 4.55% on Trump's comments before falling back to 4.53%. The WSJ Dollar Index reached 96.62 and receded to 96.48. (paulo.trevisani@wsj.com; @ptrevisani)
1330 ET - Oil futures spiked briefly after President Trump said the U.S. must respond to Iran's shooting down of a U.S. Apache helicopter near the Strait of Hormuz, before resuming their decline. Prices are lower on Trump's assertions that the U.S. and Iran are within days of a reaching deal to end the conflict. Energy Secretary Chris Wright said earlier that oil flows through the strait are rising "meaningfully" without giving details. WTI is off 4.4% at $87.29 a barrel andBrent is down 3.6% at $90.84. "Prices could potentially fall into the low-to-mid $80 range as speculators exit their positions," says Peter Cardillo of Spartan Capital. (anthony.harrup@wsj.com)
1308 ET - CBOT grain futures got a brief jolt following a post by President Trump on Truth Social stating that the U.S. must respond to the downing of a U.S. Apache helicopter by Iranian forces. Trump says the helicopter was patrolling over the Strait of Hormuz. "Large volume flow going through here on the uptick," said Joe Davis of Futures International, calling it the highest volumes traded so far today in agricultural futures. However, most-active grain futures have quickly reverted back to roughly where they were trading before the post, with corn up 0.4%, soybeans down 0.1%, and wheat rising 0.8%. (kirk.maltais@wsj.com)
1257 ET - Artificial intelligence calls for collaboration between companies, Nestle's global head of sales and customers, Jordi Bosch, says. Retail ecosystems will be powered by AI, he says at the Shoptalk Europe conference in Barcelona. Retailers and manufacturers need to work together in order to provide the best experience for consumers, he adds. "AI is really transforming the way things work at Nestle." What used to take months can now be done in a matter of days, he adds. AI should be used to support businesses, while putting humans--both consumers and employees--at the center, Bosch says. (andrea.figueras@wsj.com)
1137 ET - Low expectations for the winter wheat production are giving futures support, ahead of as Thursday's WASDE report. The most-active contract is up 0.8% in morning trade, with traders speculating over how much the USDA changes its projections for U.S. wheat. Short-covering is being seen ahead of the report, says Charlie Sernatinger of Marex in a note. "Up on more short covering and talk that the Thursday wheat production report will show lower production because of the crop ratings," says Sernatinger. This week's Crop Progress report cut winter wheat in good-or-excellent condition by one point to 25%. Most-active wheat rises 0.7%, while soybeans fall 0.3% and corn is up 0.4%. (kirk.maltais@wsj.com)
1128 ET - Gold prices extend losses, with New York futures down 1.1% at $4,314.70 a troy ounce in afternoon trading. Energy-driven inflation fears, stronger-than-expected U.S. labor data, and expectations of higher-for-longer interest rates have kept bullion under pressure despite solid long-term fundamentals. "Should the U.S. inflation data for May also surprise on the upside on Wednesday, the gold price is likely to fall further," analysts at Commerzbank say. "As long as expectations of interest rate hikes prevail, gold is likely to remain on the back foot." (giulia.petroni@wsj.com)
1125 ET - Energy Secretary Chris Wright says the U.S.'s emergency releases of oil from the Strategic Petroleum Reserve, along with those of other countries, are among reasons oil price increases have been relatively contained despite disruptions in the Middle East. The Department of Energy had released about 66 million barrels of the planned 172 million barrels as of June 5. The releases address interruptions of crude flows and aren't aimed at managing prices, Wright says at an Atlantic Council event. "And by the way, we've not sold a single barrel. We swap barrels. We deliver oil today in exchange for more barrels later than we're swapping." The transactions have added 35 million barrels to the SPR, which will have more oil at the end than there was going into the crisis, he adds.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 09, 2026 16:15 ET (20:15 GMT)
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