The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0637 ET - Palm ended higher. Overnight strength in rival oils amid escalating U.S.-Iran tensions and concerns over the impact of a super El Nino on future supply likely supported prices, Kenanga Futures writes in a note. The Bursa Malaysia Derivatives contract for October delivery rose 5 ringgit to 4,606 ringgit a ton. (kimberley.kao@wsj.com)
0402 ET - Gold prices fall despite softer-than-expected U.S. inflation data, with New York futures down 0.5% to $4,031.60 a troy ounce. Producer prices fell last month amid a pullback in energy costs, but June's inflation figures don't reflect the impact of the latest flare-up in U.S.-Iran tensions. "The near-term outlook for gold will hinge on whether higher oil prices feed through into U.S. inflation or remain a temporary geopolitical shock, with markets closely watching the Fed's response," analysts at MUFG say. Investors are now awaiting some speeches by Federal Reserve officials for more cues into the monetary policy outlook. (giulia.petroni@wsj.com)
0355 ET - Oil prices steady after three days of gains as the U.S. and Iran face a diplomatic gridlock, with fresh attacks and a naval blockade on Tehran's ports threatening a full-scale conflict. "Although tanker traffic has continued with U.S. assistance, the escalation threatens shuttle-based export routes that had helped the U.A.E. and other Gulf producers keep crude moving during earlier disruptions," says Soojin Kim from MUFG. Meanwhile, President Trump is leaning toward expanding U.S. military operations, The Wall Street Journal reported. Options include stepping up airstrikes and sending ground forces to seize Iranian islands near Hormuz. In early trading, Brent crude is down 0.3% to $84.73 a barrel, while WTI futures are flat at $79.62 a barrel. (giulia.petroni@wsj.com)
2323 ET - Sime Darby could see higher-margin after-sales activity picking up from 2H FY2027 as miners resume equipment rebuilds, CGS International analysts Ooi Siew Ern and Jacquelyn Yow say in a note. This could support a recovery in Sime Darby's industrial margins, they say. The company remains positive on Australia's mining outlook, driven by long-term demand for copper and critical minerals from electrification, AI and renewable energy investments. Sime Darby's medium to long-term industrial prospects look positive to CGS, given its exposure to industrial expansion and Malaysia's transition toward electric and more fuel-efficient vehicles. CGS keeps an add rating and 2.5 ringgit target price on the stock, which is 0.5% lower at 2.12 ringgit. (yingxian.wong@wsj.com)
2319 ET - Iron ore falls in Asian trade, with the most-traded iron ore contract on the Dalian Commodity Exchange down 0.4% at 756.5 yuan a ton. Chinese exports are likely to seasonally decline in July, easing iron ore supply pressures, Nanhua Futures writes in a note. Supply and demand are both weak, with limited short-term market drivers. Given the low valuation of ferrous metals, the rise in oil prices and the impact of the BHP strike, the market could face volatility, it adds. (kimberley.kao@wsj.com)
2245 ET - Copper is lower in early Asian trading. China's mixed economic data has raised concerns about demand, according to ANZ research analysts in a commentary. China's economy slowed more than expected in the second quarter to its lowest pace in more than three years. However, there were some positive signs, with industrial production in June beating market expectations, the analysts note. The three-month LME copper contract is 0.1% lower at $13,566.50 a ton.(tracy.qu@wsj.com)
2240 ET - Palm oil falls in trading, weighed by lower palm olein on the Dalian Commodity Exchange, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Weaker soybean oil prices on the Chicago Board of Trade is also seen pressuring palm oil prices, as the two oils often move in tandem due to their use in similar products, he adds. Ng expects prices to face resistance at 4,680 ringgit a ton and support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for October delivery is down 22 ringgit at 4,579 ringgit a ton. (yingxian.wong@wsj.com)
2007 ET - Gold edges lower in the early Asian trade. While weaker-than-expected U.S. inflation data provided some relief, a stabilizing dollar and bond yields, as well as continuing interest-rate hike expectations likely leave the metal under pressure, says Tickmill's Joseph Dahrieh in commentary. Developments in the Middle East could remain in focus, as a prolonged escalation could push oil prices higher, spurring inflation concerns and tighter monetary-policy expectations, he adds. A higher interest-rate environment typically weighs on non-interest-yielding assets like gold. Spot gold is down 0.1% at $4,057.13 an ounce.(megan.cheah@wsj.com)
1905 ET - Evolution Mining's strong balance sheet and cash flow give it plenty of options, says Ord Minnett. Evolution was able to maintain a net cash position of A$18 million in 4Q, despite the payment of its interim dividend and major capex. Analyst Paul Kaner suggests Evolution could generate A$1 billion of free cash flow in FY27. Ord Minnett assumes Evolution increases its dividend by 5% half on half, unless the company makes a splash on M&A. It also sees improved evidence that organic growth projects at its existing Cowal, Ernest Henry and Northparkes mines will be brought forward. Ord Minnett cuts its price target by 6.6%, to A$12.80/share, and retains an "accumulate" call. Evolution ended Wednesday at A$11.34. (david.winning@wsj.com; @dwinningWSJ)
1631 ET - Most-active live cattle futures have turned negative year-to-date, this after being as much as 10% higher for the year in late April. Today's close was the 13th straight lower close for cattle, and now pushes cattle prices into the negative, settling at $2.30325 a pound Wednesday. Weaker cattle prices have been seen in the aftermath of the Independence Day holiday, which is typically a strong holiday for cattle producers. Longer-term, cattle demand is still seen as strong in the U.S. "Fundamentally- nothing is changing," says Ross Baldwin of AgMarket.net in a note. "Supplies will remain tight and will support cash/beef markets." Lean hog futures settled up 1.9% to $1.0035 a pound. (kirk.maltais@wsj.com)
1542 ET - Cecafe says in a release that Brazil exported 38.46 million 60-kg bags of coffee in the 2025/26 crop year, which is down nearly 16% from the prior marketing year. However, the Brazilian firm notes, the revenue from this coffee came in at $14.6 billion, which is slightly down from the prior year but still the second-highest level ever recorded, following last year's results. Cecafe also says that Brazilian coffee shipments were 17.83 million bags in the first half of 2026, which is down 8.3% from January to June in 2025. Brazil's coffee got snarled in outdated infrastructure that left hundreds of thousands of bags unsent, says Cecafe chairman Márcio Ferreira in a note. (kirk.maltais@wsj.com)
1515 ET - Oil futures end the session a little higher as the U.S. reinstates its Iranian blockade after dropping a plan to charge a 20% fee to cover the cost of protecting ships from other countries moving through the Strait of Hormuz. The 20% proposal looked like the U.S. taking a draconian position on control of the strait to move the Iranians off theirdraconian position, says John Deal, managing director of capital markets at Post Oak Group. "I think both sides are getting pretty weary of this conflict," he says. "The problem now is that we have to find an out where we can say we win, and the Iranians have to have an out where they can also save face and pitch it as a win to their people." WTI settles up 0.3% at $79.60 a barrel and Brent rises 0.3% to $84.95.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 16, 2026 09:15 ET (13:15 GMT)
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