The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
1148 ET - Cattle futures continue their more than two-week decline following yesterday's drop in boxed beef prices. Cattle futures "continue to twist and turn on major support levels, waiting for fresh news," Naomi Blohm of Total Farm Marketing says in a note. She notes Monday's $7.07 per hundredweight drop in choice beef prices and $3.16 decline in select. "The continued weakness is likely to result in lower cash again this week." Live cattle on CME are down 1.3%. Lean hogs gain 0.2%. (anthony.harrup@wsj.com)
1123 ET - The planned rerouting of Russian grain exports as Ukrainian attacks on vessels in the Sea of Azov and Kerch Strait restrict shipping is easier said than done, AgResource says in a note. "Such transhipment requires additional logistics, including truck and rail costs, which amid limited domestic gasoline and diesel supplies could prove costly and problematic if the rail cars or trucks are even available," the firm says. Shipping insurance in the Black Sea is getting expensive, and Ukraine and Russia are likely to keep attacking each other's port facilities, AgResource adds. CBOT wheat futures are up 0.5%. Corn is off 1.1% and soybeans are 0.5% lower.(anthony.harrup@wsj.com)
1037 ET - The Houthis' attacks on Saudi Arabia suggest the geography of the Middle East conflict could be expanding from the Strait of Hormuz to the Red Sea, according to Kpler's Michelle Brouhard. "If the Red Sea becomes an active theater of the conflict, governments will no longer be managing a disruption in one chokepoint," the head of policy and geopolitical risk says. "They will be managing two." That would put additional crude and refined product supply at risk, particularly through the Bab el-Mandeb--one of the world's most important energy corridors--and Saudi Arabia's East-West Pipeline to Yanbu, which was built to bypass the Strait of Hormuz. (giulia.petroni@wsj.com)
1001 ET - Gold prices climb 2% as a cooler-than-expected U.S. inflation reading weighs on the dollar and boosts hopes for a less hawkish Federal Reserve. Consumer prices were up 3.5% in June from a year earlier, slowing more than expected and improving from the 4.2% inflation rate in May, leading investors to reduce bets that the Federal Reserve will raise rates at its meeting at the end of the month. Gold futures in New York are up 2% to $4,084.50 a troy ounce. The U.S. dollar index is down 0.5% to 100.70, making dollar-denominated commodities less expensive for overseas buyers. (giulia.petroni@wsj.com)
0907 ET - Grains futures are lower with corn leading the way down 1.2% on CBOT. Slightly better-than-expected crop ratings and Monday's weak close are weighing on prices, with corn starting to correct from overbought, Doug Bergman of RCM Alternativessays in a note. Still, "the U.S. and global supply outlook is tightening with this morning's pull-back viewed as healthy for now," he adds. Soybeans are off 0.6% and wheat is down 0.4%. (anthony.harrup@wsj.com)
0834 ET - U.S. natural gas futures continue under selling pressure with inventories well above average and LNG demand softer due to terminal maintenance. The U.S. natural gas market remains focused on summer weather to drive demand, with little near-term benefit from the rise in global prices brought on by escalation in Middle East conflict. "Notable weather weakening over the past 24 hours for weeks 2 and 3-particularly over the central and eastern U.S.--may further undermine physical support in late July," Eli Rubin of EBW Analytics says in a note. Nymex natural gas is down 1% at $2.868/mmBtu. (anthony.harrup@wsj.com)
0747 ET - Oil futures add to yesterday's gains as the U.S. continues military strikes against Iranian targets and Iran attacks vessels crossing the Strait of Hormuz. "I believe we are now in a round of negotiating under fire, following the failure at the table after the signing of the recent Memorandum of Understanding," Samer Hasn, senior market analyst at XS.com says in a note. A return to a ceasefire with more precise language concerning management of the Strait of Hormuz isn't unlikely, he says. But President Trump's assertions that the U.S. will charge a 20% fee on cargos crossing the strait to cover costs of protection "cannot be taken seriously because they are completely unrealistic." WTI is up 2% at $79.72 a barrel and Brent is up 3.3% at $86.04. (anthony.harrup@wsj.com)
0608 ET - Palm oil ended higher. Overnight strength in rival oils due to escalating U.S.-Iran tensions, concerns over a potential super El Nino and palm oil's discount to soybean oil may have underpinned demand, Kenanga Futures writes in a note. The Bursa Malaysia Derivatives contract for September delivery rose 40 ringgit to 4,573 ringgit a ton. (kimberley.kao@wsj.com)
0410 ET - Gold prices rise as the crude rally reinforced inflation concerns, though the U.S. dollar steadied as investors await key inflation data this week. In early trading, New York futures are up 0.5% at $4,024.90 a troy ounce. "Gold remains vulnerable around the $4,000/oz level, with the market closely watching developments around the Strait of Hormuz and their implications for energy prices, inflation and interest rates," ING analysts say. Attention now turns to U.S. CPI data and Federal Chair Kevin Warsh's testimony before Congress. (giulia.petroni@wsj.com)
2250 ET - Palm oil rises in early Asian trading, driven by stronger overnight soybean oil prices on the Chicago Board of Trade as well as higher crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Renewed Middle East tensions are dampening sentiment across energy markets and spilling over into the palm oil market, he adds. Ng expects prices to face resistance at 4,650 ringgit a ton and find support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 35 ringgit higher at 4,568 ringgit a ton. (yingxian.wong@wsj.com)
2250 ET - Copper edges lower in Asian trading, with the three-month LME copper contract down 0.1% at $13,523.00 a ton. Prices are likely to stay rangebound in the near term, supported by rising Middle East tensions, Nanhua Futures analysts say in commentary. The U.S. continued with strikes on Iran following President Trump's announcements of a multiday wave of attacks and a fresh blockade on Iranian trade in the Strait of Hormuz. Higher oil prices on renewed fighting could accelerate inflation, pressuring the Federal Reserve's rate trajectory. (tracy.qu@wsj.com)
2151 ET - Iron ore prices are higher in early Asian trading, after closing lower in the previous session. The most-traded iron ore contract on the Dalian Commodity Exchange rises 0.9% to 754.0 yuan a ton. However, the metal's medium-term outlook is becoming increasingly challenging, as surplus conditions are likely to emerge, Westpac economists say in a report. Supply-side pressures are building, as new low-cost output from Guinea's Simandou project enters the market. Persistently high inventories in China and softer global steel demand are also expected to pressure prices. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
July 14, 2026 12:15 ET (16:15 GMT)
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