The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.

1144 ET - CBOT grain futures are mixed, with the July WASDE report from the USDA last week resetting the market's sentiment about the health of U.S. crops. "The tone is neutral for now - it all depends on where the U.S. corn and soybean yields end up this fall," says Naomi Blohm of Total Farm Marketing in a note. "The market is currently trading trendline yield." This means that how the weather fares over the next month will be critical in shaping how bountiful this year's harvest may be. CBOT corn is down 1%, while soybeans are virtually unchanged and wheat falls 0.4%. (kirk.maltais@wsj.com)

1118 ET - Oil prices look to be a considerable risk factor for agricultural futures this quarter, including row crops and soft commodities like coffee and sugar, says Hedgepoint Global in a note. "The energy sector is expected to continue exerting strong influence on commodities markets throughout the third quarter," says the firm in its report. "The evolution of global oil inventories, refining margins, and geopolitical tensions will continue to influence… different commodities supply chains, especially those linked to biofuels and logistics costs." Corn and soybeans in the U.S. have been influenced by rule changes to the EPA's Renewable Fuel Standard programs, increasing demand for oils to fulfill blending requirements. CBOT corn falls 1% in morning trade, while soybeans slide 0.2% and wheat is up 0.1%. (kirk.maltais@wsj.com)

1111 ET - A Russian response to the drone strikes carried out on Russian vessels by Ukraine threatens to crimp Ukrainian crop exports, says Daniel Flynn of Price Futures Group in a note. "There are strong cash rumors that several Ukraine corn cargoes have declared force majeure due to the inability to execute amid the attacks by Russian vessels and Ukraine port infrastructure," says Flynn. Russia is seen as having reinvigorated its campaign against Ukrainian ports in recent days, according to an assessment from the Institute for the Study of War. Most-active CBOT corn futures are down 1% in morning trade, while soybeans fall 0.3% and wheat is flat. (kirk.maltais@wsj.com)

1103 ET - U.S. natural gas inventories rose by a little less than usual last week, trimming the storage surplus over the five-year average to 181 Bcf from 185 Bcf the previous week, according to data released by the EIA. Gas in underground storage facilities increased by 41 billion cubic feet to 3,024 Bcf. The injection was smaller than the 45 Bcf five-year average for the week, and below the 44 Bcf estimate in a WSJ survey of analysts. The report does little for Nymex natural gas futures which are off 1.3% at $2.885/mmBtu. (anthony.harrup@wsj.com)

1039 ET - Gold prices briefly drop below $4,000 despite weaker-than-expected U.S. inflation, as a flare-up in tensions between Washington and Tehran raises concerns over high energy prices. New York futures fall 1.2% to $4,002 a troy ounce after slipping to $3,977.10 an ounce earlier. "Persistently high energy prices would make it difficult for the Fed to adopt a more dovish stance," says Fawad Razaqzada from Forex.com. "That is one reason we're seeing the U.S. dollar regain a bit of momentum again today, particularly against currencies whose economies are heavily reliant on imported energy." The U.S. dollar index is up 0.1% to 100.64. (giulia.petroni@wsj.com)

1025 ET - Live cattle futures on the CME are down 0.9% in early trading, adding to a string of 13 consecutive losses. Focus remains on how New World screwworm issues develop in the southern U.S., with cases continuing to climb but remaining contained mostly to southern Texas. The USDA's Animal and Plant Health Inspection Service says that 39 cases have been reported in the U.S. since first emerging within U.S. border last month, with 18 of those cases considered active. Except for one case, all of the cases have been reported in Texas. The latest cases are found in Pecos, Brewster, and Sutton counties, which are towards the southwestern part of the state. Lean hogs are up 0.6%. (kirk.maltais@wsj.com)

1023 ET - The heavy heat that's blanketed the Corn Belt this week looks to be easing, according to the USDA's daily agricultural weather forecast. "Today's Midwestern high temperatures will generally remain below 95°F, limiting stress on reproductive corn and soybeans," says the USDA. "In fact, stressful heat and soil moisture shortages are limited to far western corn and soybean production areas." Temperatures over 95°F can be found in the northern plains, while easing in the southern plains, the USDA says. CBOT grain futures are mixed, with most-active corn down 0.3%, soybeans virtually unchanged, and wheat up 0.4%. (kirk.maltais@wsj.com)

1001 ET - U.S. natural gas futures continue to claw back ground after their slide under $3, edging higher for a third session. Market focus is on the EIA's weekly storage report, due at 10:30am ET. Analysts in a WSJ survey expect a 44 Bcf injection, leaving the surplus over the five-year average practically unchanged. The report "has increased significance after three straight bearish readings, although the July 4 holiday raised uncertainty," Eli Rubin of EBW Analytics says in a note. A bullish report relative to consensus estimates "may let August retest $3.00/mmBtu." Nymex natural gas is up 0.4% at $2.935/mmBtu. (anthony.harrup@wsj.com)

0958 ET - Oil futures are higher for a fourth session with the U.S. and Iran continuing strikes and transit through the Strait of Hormuz down to a trickle. The relative calm in energy market volatility comes as participants wait to see whether there's a return to the negotiating table, rounds of broader escalation, or a continued "state of no war and no peace," Samer Hasn of XS.com says in a note. Without a solid agreement including detailed wording on management of the strait and Iran's nuclear program, "the risks of escalation will remain high regardless of market pricing." WTI is up 0.9% at $80.31 a barrel, and Brent is up 1% at $85.76. (anthony.harrup@wsj.com)

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)

(END) Dow Jones Newswires

July 16, 2026 12:15 ET (16:15 GMT)

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