The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
1521 ET - Oil futures fall for a fourth straight session as the U.S.-Iran agreement raises expectations of a quick recovery in oil flows out of the Middle East. Reports that Qatar could restore much of its lost LNG production in a couple of months "may be a signal that damage to infrastructure in the war might not be as bad as some feared," Phil Flynn of the Price Futures Group says in a note. Across the region, "much disruption stemmed from logistics/shipping fears rather than irreparable physical destruction." Downward price pressure from returning barrels would be offset by expectations of demand recovery "and the reality that any supply flood won't be unlimited," Flynn adds. WTI settles down 5.8% at $76.05 a barrel and Brent falls 5.1% to $78.96. (anthony.harrup@wsj.com)
1514 ET - Oil futures fall for a fourth straight session as the U.S.-Iran agreement raises expectations of a quick recovery in oil flows out of the Middle East. Reports that Qatar could restore much of its lost LNG production in a couple of months "may be a signal that damage to infrastructure in the war might not be as bad as some feared," Phil Flynn of the Price Futures Group says in a note. Across the region, "much disruption stemmed from logistics/shipping fears rather than irreparable physical destruction." Downward price pressure from returning barrels would be offset by expectations of demand recovery "and the reality that any supply flood won't be unlimited," Flynn adds. WTI settles down 5.8% at $76.05 a barrel and Brent falls 5.1% to $78.96. (anthony.harrup@wsj.com)
1507 ET - Most-active lean hog futures on the CME settled trading down 0.7% to 95.075 cents a pound. It's a continuation of Monday's lower close, and maintains the negative momentum that's been seen in hog futures for much of the year. "The market has failed to follow the strong seasonals for this time of year," ADM Investor Services says in a note. Hogs may have further downside, with a bottom yet to be confirmed, says the firm. "The overall trend remains weak and the market needs to confirm a technical bottom before buyers are going to get aggressive," says ADM. Live cattle futures settled trading up 2.4% to $2.49125 a pound. The USDA and CME will be closed on Friday in observance of the Juneteenth holiday. (kirk.maltais@wsj.com)
1458 ET - U.S. natural gas futures rise for a third straight session with support from higher LNG feedgas flows post-maintenance. "That support is helping offset a still mixed weather setup, where heat in parts of the South and West is being balanced by milder conditions across much of the eastern half of the country," Gelber & Associates says ina note. The rally still faces pushback from healthy supply and storage levels that are above the historical average, the firm adds. Nymex natural gas for July delivery settles up 2.9% at $3.239/mmBtu.(anthony.harrup@wsj.com)
1355 ET - Analysts surveyed by Dow Jones this week are anticipating an uptick in the amount of ethanol barrels in inventories reported by the EIA in its weekly petroleum report tomorrow. Surveyed analysts expect stocks to land between 24.4 million barrels and 24.8 million barrels, versus 24.45 million barrels reported last week. A majority of analysts said that they expected stocks on the higher-end of forecasts. Most-active CBOT corn is down 0.4% in afternoon trading, to $4.14 a bushel. Crude oil is down 5.9% to around $76 a barrel. (kirk.maltais@wsj.com)
1222 ET - Crude futures extend losses on optimism that Middle East oil supply will recover quickly with the reopening of the Strait of Hormuz. The market's rapid response to the U.S.-Iran agreement suggests there was a lot of fear and uncertainty priced in, says John Deal, managing director of capital markets at Post Oak Group. "It's really encouraging that oil has dropped so quickly," he says. "But I don't think it's going to drop much further. We're going right into the summer season so we've got summer travel, airline demand, and also the requirement to refill the storage that's been drawn down." WTI is down 6% at $75.89 a barrel and Brent falls 5.1% to $78.93. (anthony.harrup@wsj.com)
1200 ET - The uptick seen in CBOT wheat futures appears linked to traders covering short positions in wheat in favor of opening new long positions in soybeans, says Brian Grete of Commstock Investments. "The soy complex seems like the safest markets for them to hold length," says Grete. For wheat, the surge in short-covering comes even though yesterday's Crop Progress report from the USDA showed slight improvements to winter wheat quality. But the 2-point improvement to winter wheat in good or excellent condition still leaves that total under 30% - which is still not a good showing and would indicate weak yields. Most-active CBOT soybeans are up 0.8%, while wheat rises 0.9% and corn falls 0.1%. (kirk.maltais@wsj.com)
1124 ET - U.S. row crops planted this spring seem ready to hit the hottest months of the year in good condition, says Michael Cordonnier of Soybean & Corn Advisor in a note. "I realize it is early in the growing season to make yield adjustments, but without any threatening weather on the horizon, it looks like the crop will enter the critical July period under favorable conditions," says Cordonnier, regarding corn. He raises its yield outlook for corn up 1 bushel an acre to 182 bpa, while soybean yields are seen rising 0.5 bpa to 52.5 bpa. Cordonnier adds that grain markets are awaiting the USDA planting report at the end of the month to solidify 2026 balance sheets. (kirk.maltais@wsj.com)
1025 ET - Grain traders are revved up on the possibility of China returning to purchasing U.S. soybean exports, confirming previous White House announcements that claim China agreed to buy more U.S. agricultural goods -- if a major transaction does get confirmed. "The market reaction highlights just how sensitive soybean prices remain to any indication of Chinese buying interest," says Jim Wiesemeyer of Ag Bull Trading in a note. "However, the distinction between inquiries and purchases is important." If nothing is ultimately confirmed, then the surge in prices will likely reverse. Soybeans are up 1.1% in morning trade. Corn rises 0.6% and wheat is up 2%. (kirk.maltais@wsj.com)
1009 ET - Live cattle futures are up 0.8% in early trading, with livestock traders moving faster in the shortened week, says AgResource in a note. The firm adds that a "firm" outlook is expected to be seen throughout the morning. Markets will be closed on Friday in observance of Juneteenth, reopening on Monday. Also supporting cattle is lower crude oil futures, with light crude down 3.8% to around $77.70 a barrel - their lowest since early March, according to data from FactSet. The higher oil prices due to the war have been seen as crimping consumer demand for costly beef. Lean hog futures are up 0.1%. (kirk.maltais@wsj.com)
0953 ET - The USDA's latest Crop Progress report showed a one-point improvement in corn and soybeans in good or excellent condition -- which pressured those futures overnight. The USDA says that 68% of U.S. corn is good or excellent, while 66% of soybeans are good or excellent. The weather outlook remains supportive for a strong start to crop growth, meaning large harvests this fall. "Fundamental aid is thin for the grains right now with '26 crops once again developing nicely, and a beneficial extended forecast on tap to get those crops through June without major issues," says Matt Zeller of StoneX in a note. However, CBOT corn and soybeans have turned positive at the open of trading, with corn up 0.5% and soybeans up 0.7%. (kirk.maltais@wsj.com)
0838 ET - Crude futures continue their retreat on expectations the U.S.-Iran memorandum of understanding will lead to more oil flowing soon through the Strait of Hormuz. The market appears to be pricing a "quick and sustainable opening" of the strait, Ritterbusch & Associates says in a note. "For now, a major vote of confidence is being applied to the success of this plan with limited regard to thorny issues such as financial compensation, sanctions and especially a satisfactory nuclear deal that was largely the reason behind the war." WTI is down 4% at $77.49 a barrel and Brent is off 3.8% at $80.01. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 16, 2026 16:15 ET (20:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments