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

0903 ET - U.S. natural gas futures start the week lower, extending losses ahead of this week's November contract expiration amid a milder outlook for weather-driven demand. "With the November contract about to expire the focus is firmly on December, which is now struggling to hold the $3 level," Gary Cunningham of Tradition Energy says in a note. Gas prices are in a range where their impact on electricity prices is negligible, so power prices are firm and even slightly higher in some regions, he adds. "Once the key fuel becomes this cheap, other factors take over and electricity markets hold their ground." Nymex natural gas for November is down 4% at $2.534/mmBtu.(anthony.harrup@wsj.com)

0718 ET - Coffee, soybean and sugar prices fall after President Luiz Inacio Lula da Silva's surprise election victory prompted a selloff in the Brazilian real. Brazil is the world's largest exporter of soybeans, sugar and coffee, analysts at Peak Trading Research note. "A weaker Brazilian real makes Brazilian exports more competitive globally and encourages farmer selling, as producers receive more local currency for their crops," they say. As a result, dollar-denominated contracts for major Brazilian commodities fall. Sugar futures slip 2% to 19.84 cents a pound, while coffee contracts drop 1.7% to trade just above $3 a pound. Soybean contracts drop 1.2% in Chicago to $12.41 a bushel.(josephmichael.stonor@wsj.com)

0615 ET - Palm oil prices ended lower, pressured by concerns over elevated Malaysian inventories and expectations for strong October production, while uncertainties surrounding export demand continue to weigh on market sentiment, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng expects CPO futures to find support around 4,650 ringgit a ton and face resistance at 4,850 ringgit a ton, with traders closely monitoring soybean oil and crude oil prices for further direction, he adds. The Bursa Malaysia Derivatives contract for January delivery ended 25 ringgit lower at 4,793 ringgit a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

0415 ET - Gold futures tick higher in early European trading, supported by softer oil prices and as investors await the Federal Reserve's policy decision and remarks later this week. "A pullback in oil prices in early trade is helping to limit some inflation pass-through expectations though energy futures still remain elevated," says Soojin Kim, analyst at MUFG. "The next major catalyst for gold markets will be the FOMC decision this week and whether the Fed shifts its tone to more overtly hawkish." According to CME's FedWatch tool, traders broadly expect the U.S. central bank to leave interest rates unchanged this week, but they see a nearly 80% probability of a hike in December. New York gold futures are up 0.5% to $4,027.40 a troy ounce. (giulia.petroni@wsj.com)

0320 ET - Malaysia's consumer sector could face rising competition from Chinese merchants expanding overseas with low prices, potentially squeezing local retailers' margins, AmInvestment Bank analyst Heng Yii Paul says in a note. Consumers' growing focus on value is expected to favor essential goods and discount retailers, while discretionary businesses face greater pressure from price competition and rising costs, he reckons. However, government aid and steady demand should support defensive players. Heng prefers businesses with strong value propositions, resilient demand and limited exposure to competitive pressures, such as his sector's top picks 99 Speed Mart Retail, Nestle (Malaysia) and Eco-Shop Marketing. AmInvestment Bank maintains an overweight rating on Malaysia's consumer sector. (yingxian.wong@wsj.com)

0106 ET - Singapore-listed plantation stocks under OCBC's coverage could potentially face regulatory and reputational overhang, analyst Ada Lim says, referring to the forest fires in Indonesia. Regional agribusinesses could face higher funding costs and steeper sustainability risk premiums in the long term, Lim adds, as Singaporean and Indonesian authorities could expand investigations into possible illegal land clearing and slash-and-burn practices. However, weather-related risks are expected to temper palm oil production growth and yields heading into 2027, Lim writes in a note. Against this backdrop, palm oil prices will likely remain well-supported. OCBC maintains hold ratings for Bumitama Agri, Wilmar International and Golden Agri-Resources.(amanda.lee@wsj.com)

2302 ET - While BlueScope Steel highlights better-than-expected U.S. steel spreads in upgrading its 1H earnings estimate, it is a solid performance by the steelmaker's Australian business that has caught RBC Capital Markets' eye. "Of particular interest for us was the upgrade provided for the Australian assets, which have faced a deterioration in East Asian spreads over the recent weeks," says the broker. BlueScope spoke of "resilient domestic demand and stronger demand for 'value-added' products for which we had taken a more conservative view in our estimates," it says. RBC reiterates an outperform rating on BlueScope. It has a price target of 38.00 Australian dollars a share. The stock is up 3.4% at A$33.46. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2253 ET - Iron ore prices are lower in early Asian trade amid steel mills' poor profitability. China's steel mills have a strong inclination to control production volume and purchase on an as-needed basis, say Tongguan Jinyuan Futures analysts in a research note. The blast furnace operating rate across 247 Chinese steel mills last week stood at 80%, down 4.3% from the same period last year, they note. With overseas iron ore arrivals at Chinese ports remaining elevated, supply-side pressure persists, they add. The most actively traded January iron ore contract on the Dalian Commodity Exchange is down 0.4% at 668.5 yuan a ton. (sherry.qin@wsj.com)

2250 ET - The reelection of Brazilian President Luiz Inácio Lula da Silva will likely shape the development of a budding rare earths industry in the South American nation, widely viewed as key to loosening China's grip on global supply. Lula wants Brazil--home to the world's second-largest rare-earth reserves after China--to not just export raw ore, but rather build processing plants that can separate rare earths, produce metals and eventually manufacture magnets. State coordination is crucial to that plan. Lula has also said Brazil won't favor the U.S. over China. By contrast, his opponent Flávio Bolsonaro, while similarly seeking to capture value beyond extraction, favored a more market-driven approach, with less government intervention and closer ties to the U.S. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2248 ET - Copper prices are lower in early Asian trade as mounting macroeconomic uncertainty and a stronger dollar weigh on market sentiment, Everbright Futures analysts say in a note. Lingering concerns over global growth and uncertainty around U.S. copper import tariffs are adding to headwinds, while the prospect of continued inventory inflows into the U.S. is easing supply tightness elsewhere, they say. Still, historically low domestic Chinese inventories and persistent supply-side constraints could offer some support to prices, they add. The three-month LME copper contract is down 0.5% at $14,246.00 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

2239 ET - Palm oil falls in Asian trading, weighed by profit-taking and elevated palm oil inventories, AmInvestment Bank says in a note. However, seasonal buying ahead of festivals in India, the world's largest palm oil importer, has been a key source of demand. Traders will also watch export estimates, production outlooks and price movements in competing vegetable oils and crude oil, it adds. AmInvestment Bank pegs resistance at 4,852 ringgit a ton and support at 4,784 ringgit a ton. The Bursa Malaysia Derivatives contract for January delivery is down 24 ringgit at 4,794 ringgit a ton. (yingxian.wong@wsj.com)

1958 ET - Gold is flat in the early Asian session, trading just below the psychologically-important $4,000-a-troy-ounce level. The precious metal could be weighed as renewed rise in oil prices are reviving inflation concerns, says Kudo's Konstantinos Chrysikos in commentary. "Escalating tensions in the Middle East have raised the risk of energy supply disruptions and damage to infrastructure, lifting crude and strengthening expectations that interest rates could continue to rise," he adds. A higher interest-rate environment typically pressures nonyielding assets such as gold. Spot gold holds steady at $3,994.88 an ounce.