The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0907 ET - Corn futures may not be impacted much if today's USDA reports show more acres or larger stocks than anticipated. That's because the CBOT has trended lower in recent weeks, with risk premium from the war with Iran being sold and weather generally supportive for U.S. crops. "The downside risk from here is not believed to be that large regardless of what the report says as funds have already built a large net short and farmer selling interest is limited," says Doug Bergman of RCM Alternatives in a note. Most-active corn is flat premarket. (kirk.maltais@wsj.com)
0857 ET - CBOT grain futures are mixed premarket ahead of this afternoon's yearly planting report from the USDA. Acres are largely expected to hew closely to previous forecasts. But even if planted acreage were to decrease, U.S. farmers would still likely produce an abundance of crops. In a note, Michael Cordonnier from Soybean & Corn Advisor says that for both corn and soybeans, a plurality of states are poised to deliver "above trend line" yields--or yields stronger than the typical improvement yields see on a yearly basis. Much of the Corn Belt had adequate rainfall in June, but is expected to start July on a drier note. CBOT corn is down 0.1%, while soybeans fall 0.4% and wheat is up 0.3%. (kirk.maltais@wsj.com)
0605 ET - Palm oil fell amid weakness in the soybean oil market and concern over rising output in coming weeks, said David Ng, a trader at Kuala Lumpur-based Iceberg X. He sees crude palm oil support at 4,500 ringgit a ton and resistance at 4,680 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery fell 39 ringgit to 4,549 ringgit a ton. (kimberley.kao@wsj.com)
0319 ET - European indexes are all in the green at the open as technology and industrial stocks surge. The Stoxx 600 rises 0.6%. Germany's industrial heavy DAX gains 0.9%, led by Siemens Energy. The gas turbine-maker gains 4.6%. In Paris, the CAC 40 is up 0.4% despite weakness in luxury names, as industrials rally. Schneider Electric rises 2.3%. London's FTSE 100 is 0.3% higher as miners gain after selling sharply in recent sessions on lower precious-metals prices. Antofagasta is up 2.3%. The Dutch AEX rises 0.7% on strong gains for AI-linked stocks, including a 3.3% surge for ASML. The Spanish IBEX 35 gains 0.2%, while the Italian FTSE MIB rises 0.6%. (josephmichael.stonor@wsj.com)
0254 ET - Gold prices are on track for a monthly loss of 12% despite persistent geopolitical uncertainties, as traders expect the Federal Reserve to hike interest rates this year. According to the CME FedWatch tool, traders expect three Federal Reserve rate hikes this year and are currently pricing in more than a 60% chance of a September increase. "Gold is likely to remain under pressure in the near term as easing energy prices, a resilient US dollar, and higher for longer interest rate expectations continue to reduce demand for non-yielding safe haven assets," analysts at MUFG say. In early European trading, New York gold futures rise 0.1% to $4,044.30 a troy ounce. (giulia.petroni@wsj.com)
0147 ET - OCBC Group Research cuts its gold forecast amid a more challenging near-term macro backdrop, according to a research report. A key issue for gold is U.S. real-yield repricing, especially in the run-up to potential Fed tightening, says Christopher Wong, a precious metals strategist. Gold is typically "more vulnerable when markets are still repricing the real-rate path higher," Wong says. "That risk is more acute when higher real yields are accompanied by USD strength and ETF or investor liquidation," Wong adds. OCBC cuts its end-2026 forecast for gold to $4,360 an ounce from $5,100 an ounce previously. Spot gold is 0.8% lower at $3,982.56 an ounce. (ronnie.harui@wsj.com)
2347 ET - Euroz Hartleys raises its price target on engineering contractor NRW Holdings by 18% to A$8.50/share, citing an increasing number of contract wins across multiple sectors. These wins make future earnings easier to predict, analyst Gavin Allen says. "We continue to expect further contract conversion across NRW's A$2.5 billion civil tender pipeline, particularly within Western Australia infrastructure, defense and urban projects," Euroz Hartleys says. Meantime, opportunities in other divisions remain strong, with Euroz Hartleys noting the buildout of data centers and more spending on defense. It keeps a buy call on NRW, which is up 3.2% at A$7.45. (david.winning@wsj.com; @dwinningWSJ)
2312 ET - Iron ore edges higher in early Asian trading. Concerns over tightening supply from mines in Australia and Brazil mines remain, while iron ore inventories at Chinese ports fell last week, ANZ says, citing data from market research firm Shanghai Steelhome. Still, demand has weakened with Chinese steelmakers facing margin pressure. Production costs have also risen following a fatal coal-mining accident in the Shanxi province last month, which pushed coke prices higher, ANZ adds. The most actively traded September contract on the Dalian Commodity Exchange is up 0.1% at 743.00 yuan a ton. (jason.chau@wsj.com)
2243 ET - Palm oil prices fall in Asian trade, tracking lower soybean oil prices on the Chicago Board of Trade, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The expectation of rising output in coming weeks is also seen as weighing on sentiment, he adds. Ng expects prices to face resistance at 4,680 ringgit a ton and find support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 25 ringgit lower at 4,563 ringgit a ton. (yingxian.wong@wsj.com)
2215 ET - Copper is flat in early Asian trading. Concerns over U.S. monetary policy is weighing on sentiment, and a stronger U.S. dollar is creating headwinds, keeping investor appetite subdued, ANZ Research writes in a note. Still, copper likely found some support from signs of stronger demand in China, ANZ adds. The three-month LME copper contract is flat at $13,274.00 a ton. (kimberley.kao@wsj.com)
2028 ET - Gold falls in the early Asian trade. The yellow metal is likely weighed down by a hawkish repricing in the dollar after the Federal Reserve's latest meeting, say Maybank analysts in a note. Fed chairman Kevin Warsh's ability to restore credibility at his press conference has also spurred the unwinding of the debasement trade that has dragged on the dollar over the past few months, contributing to gold's recent decline, they add. Gold has already tested $4,000 an ounce, and the analysts reckon its price has to fall to $3,600 an ounce before more buying of the metal is warranted. Spot gold is down 0.2% at $4,007.78 an ounce. (megan.cheah@wsj.com)
1630 ET - U.S. natural gas futures settle lower as the market sees adequate supply to meet the heat wave that's seen driving up power-sector demand through the July 4 holiday weekend. "Inventories are still solidly above the five-year average, which has limited urgency for buyers," Andy Huenefeld of Pinebrook Energy Advisors says in a note. The firm maintains a bullish outlook, although near-term the market remains highly weather dependent, he adds. "If warmer weather persists long enough to start eroding the five-year storage surplus, the market will have a stronger case for breaking above the recent range. If the heat fades quickly, storage comfort should keep upside momentum in check." The Nymex August contract falls 3% to $3.181/mmBtu as it moves to the front of the curve. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 30, 2026 09:15 ET (13:15 GMT)
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