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

0330 GMT - Iron ore edges lower in early Asian trading. Prices are under pressure on expectations of ample supply in the second half of the year, Nanhua Futures analysts say in a research note. That said, prices may find some support from improved demand, they write. The analysts add that international shipping rates, which have risen slightly, will be in focus, as they will have an impact on iron-ore prices. The most-traded contract on the Dalian Commodity Exchange is down 0.1% at 705.5 yuan a ton. (tracy.qu@wsj.com)

0243 GMT - Palm oil rises in Asian trading, tracking overnight gains in soybean oil on the Chicago Board of Trade, AmInvestment Bank says in a note. Technical analysis suggests CPO futures' current uptrend is still active, but some profit-taking may occur near the 5,000 ringgit resistance level, it adds. AmInvestment Bank expects palm oil prices to face resistance at 4,997 ringgit a ton and find support at 4,904 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery is up 28 ringgit at 4,989 ringgit a ton. (yingxian.wong@wsj.com)

0141 GMT - Copper futures rise in early Asian trading. Prices for the base metal are likely to remain supported by tight physical supply, say ING strategists in a note. The copper market remains vulnerable after months of outflows, driven partly by the diversion of metal to the U.S. ahead of expected tariffs, they note. Still, further inventory inflows of copper could ease near-term pressure and trigger volatility in prices, they say. The three-month copper futures contract on the London Metal Exchange rises 0.3% to $14,077.50 a metric ton. (megan.cheah@wsj.com)

0108 GMT - Gold declines in Asian trade. The precious metal is likely to continue reacting to changing monetary policy expectations, says Critical Metals' Tony Sage in an email. Gold prices could be weighed by expectations from Federal Reserve officials that monetary policy tightening could be required if inflation doesn't come down, he says. A higher interest-rate environment typically weighs on the nonyielding yellow metal. Upcoming economic data releases, including job market and inflation figures, could affect sentiment, with softer readings likely to fuel bets on a less hawkish Fed, he adds. Spot gold slips 0.1% to $4,513.18 a troy ounce. (megan.cheah@wsj.com)

1939 GMT - Lean hog futures trading on the CME close down 0.9% to 70.775 cents a pound. After snapping a four-session losing streak yesterday, lean hogs have gone back to sliding. "The cash hog market remains in a downtrend, and seasonal expectations for higher slaughter ahead favor the bearish side," says Joe Davis of Futures International in a note. Yesterday's uptick was attributed to a wave of short-covering by investors. Live cattle futures settle up 0.4% to $2.1805 a pound. (kirk.maltais@wsj.com)

1937 GMT - U.S. natural gas futures settle lower with little consolation from the smallest inventory build of the season to date. The EIA reported a below-average 16 Bcf storage increase for last week, which reduced the inventory surplus over the 2021-2025 average by 13 Bcf to 185 Bcf. "The small build confirms that current heat and power-sector demand are limiting injections, but stocks remain comfortably above the five-year average and are still projected to approach 4 Tcf by the end of the injection season," Gelber & Associates says in a note. Nymex natural gas settles down 2.9% at $2.733/mmBtu. (anthony.harrup@wsj.com)

1906 GMT - Oil futures rise for a fifth straight session as the U.S. plans what President Trump called unprecedented economic isolation on Iran. Traders' reaction was that it's better to take it seriously and see what happens next, says Baron Lamarre, co-founder of Index Litro and former head of trading at Petronas. "It's noise, but it doesn't change the fundamentals of markets at all. We want to see if there's any significant change in terms of the flow of oil." With alternative shipping routes and ship-to-ship transfer of crude to avoid the Strait of Hormuz, the market is reaching a "sort of equilibrium" where operations aren't as disrupted as much as before, he adds. WTI for September delivery goes off the board at $87.83 a barrel, up 2.3%, and the October contract rises 2.9% to $86.83. Brent settles up 2.4% at $93.78.(anthony.harrup@wsj.com)

1836 GMT - Oil futures continue higher after President Trump said the U.S. will step up economic pressure on Iran, including consequences for countries that do business with Iran. "I'm not sure why oil has popped up on this," Treasury Secretary Scott Bessent told CNBC. "If we are doing maximum economic pressure then that means that likely there will not be a large-scale kinetic restart." Oil prices have been rising the past two weeks as the market sees no progress toward an agreement and shipping through the Strait of Hormuz remains limited. Brent is up 2% at $93.48 a barrel and most active WTI gains 2.5% to $86.50.(anthony.harrup@wsj.com)

1834 GMT - The U.S. Drought Monitor shows some drought conditions easing up in the northern plains area, although drought area in the southern portion of the country shows some growth. Drought conditions are a pressure point for U.S. grains, including corn and wheat. July was the hottest month on record, according to the NOAA -- with night temperatures staying higher than they normally would have been overnight. CBOT corn is up 1.2%, while wheat is up 0.4% and soybeans are virtually flat. (kirk.maltais@wsj.com)

1804 GMT - July was the hottest month ever recorded by the NOAA, which meant that growing crops faced temperatures as high as 110°F during the day. But what might have been a bigger issues for crops is what temperatures did overnight -- not dropping enough to give them a brief relief period. "From the 1990s' to today, you've seen a consistent upward trend of higher low temperatures overnight," says Stephen Nicholson of RaboResearch. "The plant isn't getting that time to relax and recoup for the next hot day." This interrupted the pollination process for many corn plants this year, Nicholson added. CBOT corn is up 1.3% in afternoon trading, while soybeans are flat and wheat is down 0.1%. (kirk.maltais@wsj.com)

1753 GMT - Jack in the Box named Taylor Montgomery, Taco Bell's chief brand officer, to the role of president with plans for Montgomery to ultimately become chief executive. At Taco Bell, Montgomery oversaw marketing, which TD Cowen analysts say they see as the brand's core competency. "We expect Mr. Montgomery to bring this creative mindset to Jack and restore the brand's marketing & menu innovation muscle," the analysts say. Still, they back their hold rating on Jack's stock given years of underperformance. "Meanwhile, the deficient state of quick service burger and the lower income consumer do not provide tailwinds," they say.(kelly.cloonan@wsj.com)

1635 GMT - Yesterday's survey of Illinois by scouts on the third day of the Pro Farmer Midwest Crop Tour shows a decline in corn yields from the prior year. Corn yields for Illinois were assessed at 184.2 bushels an acre, which is down 7.7% from last year's finding of 199.6 bushels an acre. Illinois soybean pod counts were also lower than last year, average 1,430.4 pods per 3-foot by 3-foot square, down from 1,479.2 pods last year. Grains are mostly higher with corn up 1.1%, soybeans up 0.1%, and wheat up 0.2%.The Crop Tour concludes in Rochester, Minn. Thursday.