The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
1956 GMT - Lean hog futures rise with support from higher pork prices and this week's report of solid pork export sales, while live cattle extend their slide to 15 straight sessions. Prices rose for all pork primals except for ribs, while export sales for the week of July 3-9 were up 22% from the week before at 21,600 metric tons. Lean hogs gain 1.4% to $1.0165 a pound. Live cattle fall 1.2% to $2.24425 a pound.(anthony.harrup@wsj.com)
1909 GMT - Crude futures post double-digit weekly gains as the U.S. widens its military strikes against Iranian targets and Iran hits out at neighboring Gulf countries. Added to concerns about escalation is the possibility of Yemen's Houthis taking action to block shipping through the Red Sea, where Saudi Arabia has been rerouting oil exports with the closure of the Strait of Hormuz. "Renewed escalation over the strait's 'red line' with inventories at the lowest levels in recent years and a majority of SPR releases behind us poses significant upside risks to energy prices," Amarpreet Singh of Barclays says in a note. "As things stand, we think oil markets are still too complacent about the potential fallout for inventories." WTI settles up 4.5% at $82.49 and Brent rises 4.6% to $88.10 a barrel, with both benchmarks up 16% on the week. (anthony.harrup@wsj.com)
1855 GMT - U.S. natural gas futures recover most of the previous session's losses to close the week modestly weaker. "Weather patterns are viewed as being decently bullish overall as national daily cooling degree days exceed 10- and 30-year averages most days," NatGasWeather.com says in a note. The coming pattern isn't quite as hot in the high-demand Midwest and Northeast, however, "and that takes some of the bullish luster," the forecaster adds. Nymex natural gas settles up 1.9% at $2.911/mmBtu, down 1% on the week. (anthony.harrup@wsj.com)
1836 GMT - Wheat and corn prices have risen on the increased risk to Russian and Ukrainian grain exports as the two sides attack each other's ships and ports, "but the market seems to assume that grain will find a way to fully flow again like it did in 2022," Arlan Suderman of StoneX says in a note. Now, however, Russia and Ukraine both have more advanced drone technology to hit alternative routes, he says. And with the added risk of fertilizer shortages for 2027 due to the war in Iran, "the table is being set for a possible significant shortfall in available corn and wheat supplies over the coming year."(anthony.harrup@wsj.com)
1802 GMT - Outbreaks of the foodborne parasite Cyclospora are weighing on traffic at restaurant chains across the country, especially those with lettuce-heavy menus, according to a report from Placer.ai. Salad chains like Chopt and Sweetgreen are bearing the brunt of the declines, with foot traffic down 7.1% and 3.1%, respectively, on July 11 compared to the day of week average, the report says, pointing to the outbreak's link to contaminated lettuce and other greens. Other chains like Taco Bell and Panera Bread are also feeling pressure, the report says. (kelly.cloonan@wsj.com)
1727 GMT - The number of rigs drilling for oil in the U.S. rose by seven last week to 452, and was up by 30 from a year ago, oil services company Baker Hughes reports. The rise in oil prices has favored a pickup in drilling activity, with 45 rigs added since the start of the U.S.-Iran conflict. The increased drilling is expected to lift output, according to the EIA, which sees crude oil production rising to 14 million barrels a day next year from 13.8 million b/d this year. Rigs drilling for natural gas were unchanged for a second straight week at 126, or nine more than a year ago, according to Baker Hughes. (anthony.harrup@wsj.com)
1529 GMT - Live cattle futures are down for the 15th consecutive session, so far with no technical indication of a low, AgResource says in a note. "Live cattle and feeder cattle futures have been stretched to deeply oversold levels on speculative liquidation in the last two weeks," the firm says. "U.S. beef imports are large amid seasonally slowing demand." Live cattle on CME are down 0.6% at $2.258 a pound. Lean hogs rise 1.1% to $1.014 a pound. (anthony.harrup@wsj.com)
1505 GMT - Private exporters reported 706,634 metric tons of soybean sales to China, Mexico and unknown destinations for the 2026/27 marketing year, the USDA says. The latest flash sales include 340,000 tons to China, 256,634 tons to Mexico and 110,000 tons to unknown destinations. Soybeans are up 0.4% on the Chicago Board of Trade. (anthony.harrup@wsj.com)
1425 GMT - The International Grains Council's latest global corn production forecast for 2026/27 of 1.306 billion metric tons, down from an estimated 1.343 billion tons in 2025/26, is likely priced in for now with the latest rally, Naomi Blohm of Total Farm Marketing says in a note. The IGC's 2026/27 corn forecast is down from 1.310 billion tons previously. "Prospects for the 2026/27 maize harvest have been adversely affected by successive heatwaves in parts of Europe," the council says. Corn edges up 0.1% on the Chicago Board of Trade.(anthony.harrup@wsj.com)
1403 GMT - Grain futures are higher led by wheat, picking up after Thursday's pullback. Continued fighting between Russia and Ukraine is the main issue, but not the only one, driving wheat gains, Doug Bergman of RCM Alternatives says in a note. "Beyond that, however, the U.S. crop is short, the EU crop is/was stressed by heat, and El Niño is expected to reduce the Australian crop," he adds. "The uptrend is in place, but volatile trade is expected." CBOT wheat is up 0.9%, corn climbs 0.4% and soybeans are 0.5% higher. (anthony.harrup@wsj.com)
1305 GMT - Treasury yields edge lower as the economy remains solid despite lingering geopolitical tension. President Trump raises doubts about the U.S. electoral process in a televised speech Thursday night. Residential construction accelerates more than expected in June, while the import price index cools down. The University of Michigan consumer sentiment index is expected to tick higher to 50.5 from 49.5, in a WSJ survey. Oil futures rise more than 2%. The WSJ Dollar Index climbs 0.1%. The 10-year yield is at 4.533%, down from yesterday's settle of 4.568%. The two-year slips to 4.143% from 4.155%. (paulo.trevisani@wsj.com; @ptrevisani)
1246 GMT - Crude futures are higher and on track for hefty weekly gains as the U.S. continues its strikes against Iranian military targets, and Iran fires at sites in other Gulf countries. "We still consider that the escalation in the war between the U.S. and Iran is consistent with our baseline view that the recovery in oil flows would be bumpy and punctuated by flare-ups," Kieran Tompkins of Capital Economics says in a note. "That said, recent events have markedly raised the chances of a more adverse scenario where oil flows are constrained for another sustained period." WTI is up 2.6% at $80.97 a barrel and Brent gains 2.4% to $86.22.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 18, 2026 00:15 ET (04:15 GMT)
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