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

0854 ET - CBOT grain futures are mixed premarket, as traders watch for headlines out of Beijing, where President Trump and Chinese president Xi will begin their summit. Markets as a whole have a number of expectations heading into the meeting. In a note, analysts with Jefferies say among those are an extension of the tariff truce between the U.S. and China, U.S. access to rare earth minerals, and purchase agreements for goods including U.S. agricultural exports. This last expectation has been evident in CBOT soybean futures, which have been rising ahead of the summit. The most-active contract is up 0.1%. (kirk.maltais@wsj.com)

0646 ET - Palm oil prices fell in the Asian session. Upside momentum in prices may be restrained by concerns over rising Malaysian stockpiles and an uncertain demand outlook, despite continued tensions in the Middle East supporting crude oil prices, Kenanga Futures says in a note. The Bursa Malaysia Derivatives contract for July delivery fell 41 ringgit to 4,440 ringgit a ton. (kimberley.kao@wsj.com)

0402 ET - India's government is likely to follow up its gold and silver tariff hikes with more moves to reduce precious metal imports, Nomura analysts say. The tariffs follow Prime Minister Narendra Modi's appeal to citizens to conserve foreign exchange and avoid purchasing gold and jewelry. With India's balance-of-payments deficit tracking at over $70 billion, Nomura sees the tariffs as aimed at reducing imports of precious metals and narrowing the current-account deficit. Nomura estimates that imports of precious metals--including platinum--have risen sharply to 2.7% of GDP. Modi's appeal suggestsreduced policy appetite for a further deepening of the twin deficits. Next steps could include disincentivizing other nonessential imports like electronics; a diaspora bond to mobilize FX deposits; or fuel-price increases to reduce the fiscal burden. (fabiana.negrinochoa@wsj.com)

0350 ET - London's miners are among the FTSE 100 index's largest gainers in opening trade, with Chilean copper miner Antofagasta rising over 5%. Copper's rise to record highs is a reminder that the AI story isn't only about chips and software, Hargreaves Lansdown's Matt Britzman writes. Markets have been distracted by the conflict in the Middle East but AI growth, construction of data centers and electrification efforts continue. Futures are climbing on strong Chinese demand and mounting supply concerns, Britzman says. LME three-month copper futures are up nearly 1% to $14,080 a metric ton. Anglo American gains 4.5%, Rio Tinto is up 4% and Glencore rises 3.3%. (adam.whittaker@wsj.com)

0336 ET - Malaysia's auto sector could be weighed by still-elevated crude oil prices, potentially softening consumer spending and discretionary purchases, despite expectations that a permanent Iran war cease-fire scenario will prevail, RHB IB analyst Iftaar Hakim Rusli says in a note. Tighter loan approvals and concerns over weaker disposable income from higher fuel prices could weigh on near-term demand for discretionary purchases, he says. He cuts his 2026 Malaysia auto sales forecast to 780,000 units from 805,000 units. RHB maintains a neutral stance on Malaysia's auto and auto parts sector, recommending investors adopt a wait-and-see approach and remain selective by accumulating on share price weakness and focus on earnings visibility. It pegs Sime Darby as its top pick. (yingxian.wong@wsj.com)

0331 ET - Gold prices rebound after this week's pullback attracted fresh buying interest, even as stronger-than-expected U.S. inflation data and stalled U.S.-Iran talks cloud the outlook. "Markets now price in more than a 40% probability of a Fed rate hike by year-end, driving U.S. bond yields higher and weighing on non-yielding gold," says Soojin Kim from MUFG. "Despite the pressure from rising rates and elevated energy-driven inflation, gold has remained relatively resilient due to strong demand from central banks." In early European trading, futures in New York are up 0.6% to $4,714.30 a troy ounce. Silver rises 2.2% to $87.52 an ounce.(giulia.petroni@wsj.com)

2315 ET - Iron ore edges lower in early Asian trading. Molten iron output, a strong signal of iron ore's demand, remains steady, according to Nanhua Futures analysts in a commentary. However, further demand upside is limited due to a seasonal slowdown, they note. While port stocks are still falling, the current price level looks stretched, they add. The most traded iron-ore contract on the Dalian Commodity Exchange is 0.1% lower at 816.5 yuan a ton.(tracy.qu@wsj.com)

2243 ET - Palm oil prices fall in Asian trading, weighed by higher inventories and a sluggish export performance, AmInvestment Bank says in a note. Even though escalating U.S.-Iran tensions could potentially support biofuel-related demand and crude oil prices, technical analysis suggests crude palm oil futures remain under persistent bearish momentum, it says. AmInvestment Bank pegs resistance at 4,520 ringgit a ton and support at 4,431 ringgit a ton. The Bursa Malaysia Derivatives contract for July delivery is 6 ringgit lower at 4,475 ringgit a ton. (yingxian.wong@wsj.com)

2204 ET - The meeting between President Trump and Chinese leader Xi Jinping set for this week is likely to bear little fruit, Danske Bank economists say, anticipating minor impact on financial markets in the near term. Trump has neither the incentives nor the means to pressure China, with his focus remaining on the Iran War and a court ruling that constrains his tariff weapon, the economists say in a note. For China, keeping the relationship on a stable track is the top priority, especially on the Taiwan issue, they say, adding that a change in a wording of U.S. policy on the island would be a major victory for Beijing. China might agree to buy more American agricultural products, extend the tariff truce and establish trade and investment boards that would be largely symbolic, they say. (singaporeeditors@dowjones.com)

2139 ET - Copper rises in early Asia trade amid signs of stronger Chinese demand and mounting supply risks, ANZ Research analysts say in a note. Recent economic data showing better-than-expected industrial activity in China, which has seen only limited impact from the Iran war, has boosted market sentiment. The rally in artificial-intelligence-related stocks has also strengthened expectations for further investment in data centers, supporting copper demand. Meanwhile, concerns over a looming supply crunch continue to build as disruptions to sulphuric acid supplies from the Persian Gulf persist, adding upward pressure to prices. The three-month contract on the London Metal Exchange is up 0.6% at $14,109 a ton, just shy of its record high of $14,500 a ton. (jason.chau@wsj.com)

2026 ET - Gold edges higher in early trade after U.S. consumer prices gained in April, potentially spurring the precious metal's prices given its typical position as a hedge against inflation. Structurally stronger safe-haven demand, particularly in response to U.S. Fed independence concerns and aggressive U.S. tariff policy, could help gold find support around $6,000 an ounce by the year-end, says Commonwealth Bank of Australia's Vivek Dhar in a note. Spot gold is up 0.2% at $4,724.45 an ounce. (megan.cheah@wsj.com)

1857 ET - JBS says U.S. consumers are seeking more affordable protein options, leading to record net first-quarter sales in its U.S. pork business. The segment's sales ticked up 1.5% in the quarter from a year ago, with the results driven by strong domestic demand as well as the company's efforts to expand its value-added and branded product portfolio, JBS says. The demand for pork comes as beef prices rise, driven by soaring cattle costs. (kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

May 13, 2026 09:15 ET (13:15 GMT)

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