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

0523 ET - Palm oil ends lower in likely profit-taking after the Lunar New Year holiday. CPO prices are likely to be capped by a stronger ringgit, the postponement of Indonesia's B50 biodesel mandate and higher Malaysian stock levels, IOI Corp. Bhd, a major palm oil player, said after releasing its fiscal 2Q results. However, the company said CPO prices could remain above MTR4,000 a ton over the next three months, and that soybean oil's premium over palm oil could support demand. The Bursa Malaysia Derivatives contract for May delivery ended 29 ringgit lower at MYR4,054 ringgit a ton. (sherry.qin@wsj.com)

0438 ET - Diversified miners could explore streaming deals after the market responded positively to BHP's deal with Wheaton Precious Metals, Berenberg's Richard Hatch and Jasper Mainwaring write. It is unlikely there will be an avalanche of new streaming deals but miners could look at it as an option to create value from existing assets, they write. In February, BHP signed a $4.3 billion streaming deal for silver from the Antamina mine in Peru. The deal comes as miners aim to monetize assets that they think the market is not attributing value to, the analysts write. (adam.whittaker@wsj.com)

0412 ET - Diversified miners are focused on simplifying their portfolio's but remain committed to the multicommodity model, Berenberg analysts Richard Hatch and Jasper Mainwaring write. The miners want more copper assets but are likely to maintain exposure to cash-generating commodities like iron ore and coal, they write. This cash can be used to buy copper assets. Rio Tinto, which held talks with Glencore on a possible merger, said it had planned to retain its diversified portfolio if the deal had gone ahead--this isn't something the analysts expected. They believed the Rio-Glencore combined business would want to divest a large portion of non-copper assets, they say. (adam.whittaker@wsj.com)

0332 ET - Gold prices ease in early trading, as investors take profit after a rally fuelled by uncertainty over U.S. tariffs and tensions in the Middle East. Futures in New York fall 0.7% to $5,190.50 a troy ounce, weighed down in part by a firmer U.S. dollar. Bullion climbed above $5,200 in the previous session, supported by renewed demand for safe-haven assets as confusion surrounding President Trump's import levies added a fresh layer of uncertainty to global markets. Still, "gold remains above $5,000/oz, with further upside likely as geopolitical risks persist, questions about Fed independence intensify, and investors continue reallocating away from sovereign bonds and major currencies," says Soojin Kim from MUFG. (giulia.petroni@wsj.com)

0026 ET - Japfa Comfeed Indonesia faces higher risks from 2Q, including margin pressure, UOB Kay Hian analysts say in a research report. The Indonesian government plans to shift soybean meal import authority to state-owned enterprises under PT Berdikari from private players, with full implementation expected in April, the analysts note. Given soybean meal accounts for around 25% of poultry feed formulation, any inefficiency or reduced pricing flexibility under a state-owned-enterprise-led import system could lead to higher feed costs and margin pressure for the company. The brokerage cuts the stock's rating to hold from buy and the target price to IDR2,800.00 from IDR3,200.00. Shares are 1.2% higher at IDR2,450.00. (ronnie.harui@wsj.com)

0006 ET - Gold is likely to consolidate above the $5,000/oz mark in the near term, says Phillip Nova's Priyanka Sachdeva in a note. The underlying geopolitical escalation in the Middle East is likely to keep prices above this pivotal level, she says. Ongoing negotiations in the region could quickly sway price movements for the yellow metal, she adds. "A genuine de-escalation could taper off haven demand, while renewed friction would likely fuel further defensive positioning in gold," she says. Other key macro drivers such as real yields, U.S. dollar trends and Federal Reserve rate expectations could also affect the precious metal's prices. Spot gold falls 1.2% to $5,166.80 a troy ounce. (megan.cheah@wsj.com)

2326 ET - Palm oil prices are projected to consolidate within a MYR4,000-MYR4,300/ton range in March, the Malaysian Palm Oil Council says. Tightening near-term supply, improving demand from India and firm U.S. soybean oil prices should keep palm oil prices supported, it says. Stronger Malaysian exports and Indonesia's front-loading of shipments ahead of its export levy hike are expected to trim inventories in both countries, it reckons. India's demand is expected to rebound on improved price competitiveness, with 2026 palm oil consumption forecast to rise by 800,000 tons, it adds. However, CPO gains may be capped by ample global soybean supply and rising Chinese soybean oil exports, which could temper further gains, MPOC says. The two oils often move in tandem due to their use in similar products. (yingxian.wong@wsj.com)

2248 ET - Margins in Malaysia's automotive sector could remain under pressure due to intensifying price competition, writes TA Securities' Angeline Chin. The increased industry competition means market-share gains are likely to come at the expense of profitability, the analyst notes. Auto sales in Malaysia could decline 8.6% to 750,000 units in 2026, she says in a note. Chin cites weaker replacement demand, fading order backlogs, tighter consumer spending and a more challenging pricing environment amid rising EV penetration as contributing factors. TA Securities maintains an underweight rating on the Malaysian auto sector. It rates Bermaz Auto, MBM Resources and Sime Darby as sell. (yingxian.wong@wsj.com)

2204 ET - Iron ore falls in Asian trading, with the contract on the Dalian Commodity Exchange for May delivery down 1.3% at 744.50 yuan a ton following the Lunar New Year break. There are growing expectations that supply tightness will ease, Nanhua Futures analysts say in commentary. Overall market risk appetite has weakened, pressuring prices. However, fundamentals have shown some improvement. Shipments are restrained and inventories haven't fallen further yet, with most bearish sentiment already priced in, Nanhua says. Meanwhile, steel mill margins remain at relatively healthy levels and hot metal output has resumed, it adds. (jason.chau@wsj.com)

2145 ET - Palm oil prices rise in early Asian trading amid bargain hunting. Crude palm oil sentiment could be weighed by a stronger ringgit against the dollar and ongoing demand concerns, PhillipCapital says in a note. A stronger ringgit reduces the appeal of palm oil, which is traded in the Malaysian currency, further pressuring prices. PhillipCapital sees resistance at 4,200 ringgit a ton and support at 4,000 ringgit a ton. The Bursa Malaysia Derivatives contract for May delivery rises 20 ringgit to 4,103 ringgit a ton. (yingxian.wong@wsj.com)

2112 ET - Copper gains in Asian trading as Chinese traders return from the Lunar New Year break. The U.S. tariff ruling by the Supreme Court means China faces less-punitive tariffs, which could aid its metal-intensive exports, say ANZ Research analysts in a note. Still, higher physical prices have raised concerns that China, the world's top consumer, may halt purchases, they add. The three-month contract on the London Metal Exchange rises 1.6% to $13,070.50 a metric ton. (megan.cheah@wsj.com)

1843 ET - Gold edges higher in early Asian trade amid ongoing tariff risks that could enhance the safe-haven appeal of the precious metal. President Trump is mulling new national security tariffs on a half-dozen industries following last week's Supreme Court decision that invalidated many of his second-term levies, the WSJ reported, citing people familiar with the plans. Gold's recent "rally cannot be separated from the tense geopolitical and economic environment that has led to a global repricing of risk," says Rania Gule, senior market analyst at XS.com, in an email. Spot gold is 0.3% higher at $5,240.28/oz. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 24, 2026 09:15 ET (14:15 GMT)

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