The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0849 ET - The USDA's latest Crop Progress report showed stability in the condition of spring crops--with 67% of U.S. corn in good-or-excellent condition, along with 65% of soybeans. For corn, the rating is the same as last week, while for soybeans it's down one point. That lower ratings came from states that received a deluge of rain this spring, with Ohio and Indiana among the five-lowest rated states--but Iowa and Minnesota balanced things out by being among the highest-rated states. A favorable weather outlook is ahead this week, says Michael Cordonnier of Soybean & Corn Advisor in a note, with rainfall and higher temperatures expected in most areas. Corn is up 0.7% and soybeans fall 0.2%. (kirk.maltais@wsj.com)
0843 ET - The amount of winter wheat crops in good-or-excellent condition sank by one point in the latest Crop Progress report from the USDA, falling to 25% good-or-excellent. That's now 29 points below the rating at the same time last year, adding fuel to the fire for a crimp in U.S. wheat supply. It's the worst rating the U.S. winter wheat crop has ever had for this time of year, says AgMarket.net in a note. However, the firm says the spring wheat crop is looking considerably better--with 52% good-or-excellent, up 5 points from the prior week. CBOT wheat is up 0.9%, while corn climbs 0.6% and soybeans fall 0.3%. (kirk.maltais@wsj.com)
0819 ET - J.M. Smucker is walking back price increases across its coffee division as commodity outlooks improve. The company raised prices last year, as adverse weather in top coffee-producing countries hurt supply and President Trump's tariffs increased the cost to import coffee beans. But now, the owner of Folgers coffee says it is beginning to see a moderation in the green coffee commodity, supported by positive early indications for this year's crop. "As we have done historically, we will adjust pricing as our cost structure improves to continue to deliver value to our consumers," CEO Mark Smucker says in prepared earnings remarks. "We have started to lower prices through trade investments, and in a sustained deflationary environment we have planned a list price decrease." (connor.hart@wsj.com)
0610 ET - Palm oil ended lower, weighed by soybean oil's weakness on the Chicago Board of Trade and weaker crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Market sentiment is also weighed by Malaysia's recent export weakness, he adds. Ng expects crude palm oil futures to face resistance at 4,650 ringgit a ton and find support at 4,480 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery fell 48 ringgit to 4,527 ringgit a ton.(amanda.lee@wsj.com)
0419 ET - T. Rowe Price shifts its stance on gold to more neutral from overweight, as the near-term backdrop appears less supportive than earlier in the rally. Central bank demand, one of the strongest sources, appears to have moderated. Portfolio manager Matt Bance says in a note that the precious metal may be sold or mobilized when countries face funding, currency, or balance-of-payments pressures. Central bank demand could thus be less supportive until the Middle East conflict eases. Furthermore, uncertainty surrounding the Mideast conflict, energy markets and the policy outlook may limit gold's near-term upside potential, he says. Gold is also competing for investor attention against areas with a stronger cyclical and structural growth narrative, such as artificial intelligence infrastructure, he adds. Spot gold edges up 0.1% at $4,331 an ounce, LSEG data shows.(monica.gupta@wsj.com)
0354 ET - Gold prices slip in early trading as investors await clarity on Middle East developments after Israel and Iran halted attacks on each other, easing immediate concerns over a wider escalation in the region. New York futures are down 0.3% to $4,351.80 a troy ounce. "Higher-for-longer rate expectations remain a headwind for non-yielding assets such as gold, particularly after strong U.S. economic data reinforced expectations of tighter monetary policy," says Soojin Kim from MUFG. "Gold remains around 18% below its pre-conflict level, reflecting the combined impact of rising bond yields, a stronger dollar, and shifting interest-rate expectations." (giulia.petroni@wsj.com)
0055 ET - Resolute Mining bull Macquarie reiterates an outperform rating and A$1.80 price target on the gold-mining stock despite recent logistical and supply chain disruptions. The bank pares its 2026 earnings-per-share estimate for Resolute by 4% to 15.1 U.S. cents, but makes no changes to its 2027 and 2028 estimates. Resolute "is working to mitigate disruptions by the end of the [plant shutdown] period, which should see mining activities normalize and represent a near-term catalyst for the stock," says the bank. Shares in Resolute are down 7.3% at roughly A$1.05, taking month-to-date losses to more than 18%. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0030 ET - The addition of activist Elliott to Northern Star's share register could signal an inflection point for the gold-mining stock, Macquarie says. Shares in Northern Star have been underperforming and Elliott will be focused on generating value, says the bank. "We see a catalyst-rich period ahead with pressure on Board and management to deliver," Macquarie says. The bank highlights Newmont, Agnico Eagle and Barrick as having the balance sheet and size to acquire Northern Star whole, should the entire company be sold. If it is carved up, Northern Star could get "quick wins" with the sale of noncore assets. A sales program could target Thunderbox, Carosue Dam, Jundee and/or Kalgoorlie Operations, it says. Macquarie keeps its outperform rating and A$25.00 target. Shares are down 3.9% at A$19.10. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2300 ET - Iron ore falls in early Asian trading. Underlying demand for iron ore remains weak, ANZ Research analysts say, adding that they see little chance of the structural decline in steel demand reversing without targeted policy support from China. Furthermore, weak consumption in China and high existing inventory levels continue to push prices down. ANZ expects oversupply pressures to intensify as production from Australia and Brazil expands and new mining projects come online. The most actively traded September iron ore contract on the Dalian Commodity Exchange is 0.3% lower at 759.50 yuan a ton. (jason.chau@wsj.com)
2240 ET - Palm oil falls, weighed by lower soybean oil prices overnight on the Chicago Board of Trade, PhillipCapital says in a note. Indonesia's plan to tighten oversight of strategic commodity exports by creating a state-backed entity to centralize natural resources exports including palm oil is adding to market uncertainty and dampening sentiment, it adds. PhillipCapital sees support at 4,350 ringgit a ton and resistance at 4,680 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery is lower by 34 ringgit at 4,541 ringgit a ton. (yingxian.wong@wsj.com)
2240 ET - Delays to thermal-coal deliveries from Indonesia are heightening concerns about supply disruption, says Commonwealth Bank of Australia's John Oh. Indonesia accounts for nearly half of internationally traded thermal-coal supply and recently announced plans to centralize exports. Newcastle coal futures have jumped above $150 a metric ton, up 16% on month and their highest since the start of the Middle East conflict, Oh says. With delays in Indonesian supply, Oh is closely monitoring demand signals. "The key watch point remains the ongoing Middle East conflict and impact to LNG markets," he says. A resumption of LNG exports through the Strait of Hormuz could soften coal prices, says Oh. Although, Europe's gas stocking demand will likely be a key support for both LNG and coal prices in the coming months, he adds. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2120 ET - Copper falls in early Asian trading, with the three-month contract on the London Metal Exchange 0.2% lower at $13,589.50 a ton. The metal, a key commodity used in artificial-intelligence infrastructure, has weakened following last week's selloff in technology stocks, as investors grew increasingly concerned about the sector's profitability, ANZ Research analysts say in a note. However, losses were partially cushioned by Israel and Iran saying they would pull back from renewed fighting. Market sentiment has been further weighed by a strong U.S. jobs report that triggered expectations for the Federal Reserve to raise rates this year. Still, ANZ expects supply disruptions to persist given the continuing conflict in the Middle East and the effective closure of the Strait of Hormuz. (jason.chau@wsj.com)
(END) Dow Jones Newswires
June 09, 2026 09:15 ET (13:15 GMT)
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