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

0254 GMT - Palm oil prices fall in early Asian trade, likely tracking lower crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Crude palm oil prices could remain soft after recent data showed weaker Malaysian palm oil exports, he adds. Ng estimates palm oil prices to find support at 4,400 ringgit a ton and face resistance at 4,580 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery is 5 ringgit lower at 4,490 ringgit a ton. (amanda.lee@wsj.com)

0252 GMT - Iron ore prices are volatile in early Asian trading, swinging between gains and losses. A significant decrease in iron ore arrivals at Chinese ports from the previous month has led to a decline in port inventories, Baocheng Futures says in a research note. However, arrivals are expected to rebound as shipments from overseas miners climb, it says. Meanwhile, uncertainty continues over further demand for iron ore by steel mills, it adds. The most-traded iron-ore contract on the Dalian Commodity Exchange is up 0.1% at 776.5 yuan a ton. (sherry.qin@wsj.com)

0155 GMT - Copper falls, with the three-month contract on the London Metal Exchange 0.5% lower at $13,205.50 a metric ton. The metal is trading within a tight range, with robust restocking from Chinese manufacturers outweighing economic growth concerns stemming from the ongoing conflict in Iran, ANZ Research analysts say in a note. Lower copper prices have revived deferred demand for the metal during the peak demand season, while expectations around countries ramping up efforts to increase power infrastructure are also supporting demand, they note. Price arbitrage also continues to draw imports into the U.S. as investors await a decision on refined copper tariffs by the end of June, when the Commerce Department is scheduled to update its market assessment, ANZ adds. (jason.chau@wsj.com)

2333 GMT - Gold edges higher in early Asian trade on hopes for a U.S.-Iran deal. U.S. President Trump said that he expects a deal with Iran will be announced fairly soon and that he may travel to Pakistan to close the deal. "A diplomatic resolution could ease energy-driven inflation pressures, which could weigh on Treasury yields and improve the appeal of non-yielding assets such as gold," Critical Metals' Tony Sage says in an email. "However, any setback could inject volatility and downside risks for the [precious] metal in the near-term," the CEO adds. Spot gold is 0.1% higher at $4,794.26 per ounce. (ronnie.harui@wsj.com)

Jefferies cuts its estimates for packaging company Amcor for the second time in a month, citing a 20% on-year rise in resin prices. "We expect costs to impact 4Q26 given typical lags," analyst Ramoun Lazar says. Its EPS forecast for the June quarter falls by 2%. That means its FY26 adjusted EPS view is now US$3.94/share, below Amcor's guidance of US$4.00-US$4.15/share. "We also cut FY27 estimates by 4% to reflect a more cautious outlook for consumer trends and overhang from higher input costs," Jefferies says. "Stock is already pricing both cost and top-line risks, and is -20% versus S&P 500 since the Mid-East conflict." It retains a buy call on Amcor while lowering its price target by 4.6% to A$71.83/share. Amcor ended Thursday at A$55.84. (david.winning@wsj.com; @dwinningWSJ)

1936 GMT - U.S. natural gas futures rise modestly as the market shrugs off an above-average 59 Bcf storage build that increased the inventory surplus over the five-year average. The lack of more significant downside given bearishly mild spring weather "could indicate that the market is running out of momentum," Andy Huenefeld of Pinebrook Energy Advisors says in a note. "Injections are poised to ramp up considerably starting with next week's report." Nymex natural gas for May delivery settles up 1.4% at $2.647/mmBtu. (anthony.harrup@wsj.com)

1923 GMT - Oil futures settle higher after U.S. officials indicated a tightening of the blockade of ships in and out of Iranian ports, while the market holds out hopes for a U.S. deal with Iran which President Trump said is close. Trump also said Israel and Lebanon agreed to a 10-day cease-fire and that he has invited their leaders to hold peace talks at the White House. "As of right now, the temperature has been turned down," Mizuho's Robert Yawger says in a note. But while the U.S. blockade has gone three days without incident, "as many as 10 million to 13 million barrels a day of oil and 20% of global LNG remain shut in the Persian Gulf, with crude oil responding accordingly as the global oil market gets tighter every day." WTI settles up 3.7% at $94.69 a barrel and Brent rises 4.7% to $99.39. (anthony.harrup@wsj.com)

1809 GMT - Both gold and silver futures finish the day lower, with front-month gold closing down 0.3% to $4,785.40 a troy ounce while silver falls 1.1% to $78.606/oz. While down today, support is seen longer-term for precious metals as a resolution to the war in Iran looks possible. "The movement in gold has been supported by a context in which investors are seeking a balance between risk assets and safe-haven instruments," says Antonio Di Giacomo of XS.com in a note. He adds that gold has shown resilience in higher volatility trading in recent weeks, but the attitude towards precious metals remains more leaning towards speculation than being a safe-haven choice. (kirk.maltais@wsj.com)

1800 GMT - Domestic demand for soybeans in the U.S. is undergoing a change, says StoneX in a note. In the note, StoneX says that the bolstering of soybean crushing, as illustrated by NOPA's latest crushing report, is shifting the market away from being reliant on export demand. "Crush margins and soybean oil demand [are] playing a more central role in market direction," says analysts with the firm. NOPA reports that for March, U.S. soybean crush reached 226.2 million bushels, the highest level ever recorded for that month and second-highest for any month on record. Soybean crushing is currently running 13% from last year. CBOT soybean futures are down 0.3% in afternoon trading. (kirk.maltais@wsj.com)

1725 GMT - Areas of extreme drought in states including Colorado, Nebraska, and Arkansas grew in the past week, according to data from the U.S. Drought Monitor. But, areas of the Corn Belt are improving in moisture, with southern Iowa and northern Illinois both moving out of abnormal dryness, the lowest category of moisture deficiency measured by the Drought Monitor. The USDA's weekly Crop Progress reports have yet to begin assessing crop health for corn and soybeans, with only 5% of the corn crop and 6% of the soybean crop planted as of last week. (kirk.maltais@wsj.com)

1717 GMT - U.S. crude futures are adding to gains after U.S. officials said the blockade of ships in and out of Iran applies to vessels of all nationalities and gave no signs the operation will end anytime soon. Prospects for further U.S.-Iran talks have reduced volatility in recent sessions. "What the market is ultimately pricing right now is a variety of potentially quite different outcomes," says Ben Hoff of Societe Generale. "Some of them are probably somewhat more optimistic and others more pessimistic." Pricing in futures "is a reflection of some kind of market-weighted probability of those different outcomes," he adds. WTI is up 3.6% at $94.60 a barrel and Brent is 4.8% higher at $99.45. (anthony.harrup@wsj.com)

1709 GMT - The Canadian dollar's response to higher energy prices triggered by the war in Iran will remain subdued, says Oliver Gervais, director of economic forecasting at Bank of Nova Scotia. He says the link between CAD and crude-oil prices has weakened materially over the past decade, and the current episode is no exception. Canada is a net crude exporter, so national income is set to climb due to higher energy prices. Gervais, however, says his modeling indicates a stronger appreciation in CAD tied to demand-driven oil price increases rather than jumps due to supply shocks. He estimates that a 10% rise in WTI prices linked to supply shocks leads to CAD appreciation of 1%, versus a 3% appreciation from demand-driven factors. (Paul.Vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

April 17, 2026 00:15 ET (04:15 GMT)

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