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

1203 ET - Managed money traders are seen trimming the size of the net long positions they hold in grain futures to open trading in October, says Brian Hoops of Midwest Market Solutions. "The biggest issue the grains are facing today is margin call type selling from traders, including the funds as increased margin requirements are forcing them to pare down positions," says Hoops. Fund traders accumulated large net long positions in grains in recent months, according to CFTC data. Also pressing on grain futures is a stronger U.S. dollar, this as bond yields continue to climb. "The dollar is bearish as it slows down our exports," says Hoops. Most-active CBOT corn falls 0.6%, soybeans are down 1.4%, and wheat inches down 0.1%. (kirk.maltais@wsj.com)

1149 ET - The ongoing war between Russia and Ukraine isn't expected to be resolved until some point after 2027, says SovEcon in a note this week. As a result, the firm has reduced its forecast for Russian wheat exports by 4.7 million metric tons to 36.7 million tons in the 2026/27 marketing year. That's 20% below last year, says the firm - and the lowest since 2021/22, says SovEcon. "The forecast was lowered as we no longer expect Black Sea and Azov Sea exports to normalize before 2027," says the firm. CBOT wheat futures are up 0.1%. (kirk.maltais@wsj.com)

1144 ET - The EIA says that 64 billion cubic feet of natural gas were added to U.S. reserves for the week ended Sept. 25. This brings net storage to 3.42 trillion cubic feet, which is nearly 4% lower than this time last year, according to the EIA. The result is spot-on with the average estimate from analysts surveyed by The Wall Street Journal this week. Prior to the report, analyst say they were looking for a surprise in the report to cause a big move in natural gas futures in either direction. Instead, natural gas has gradually floated lower, with the most-active contract down 1% to $2.996 per mmBtu. (kirk.maltais@wsj.com)

1031 ET - Lean hog futures on the CME continue to slide, with the most-active contract off 0.9%. If hogs finish down, then it'll be the sixth losing session out of the past seven, according to data from FactSet. "Lean hog futures edged lower as the broader technical downtrend remained intact, but cash indicators showed tentative signs of stabilizing," says Joe Davis of Futures International in a note. October is National Pork Month, which may stimulate consumer demand. Live cattle futures are down 0.4% in morning trade. (kirk.maltais@wsj.com)

1000 ET - CBOT corn is up 0.6%, after weakness seen following the USDA's quarterly stocks report. "Yesterday's report was bearish," says Naomi Blohm of Total Farm Marketing in a note. "Convenient for the USDA to find more old crop corn--lots more old crop corn." The latest weekly export sales report also showed corn sales on the low end of forecasts, an indicator of less demand following the showing of more supply than expected. Soybeans fall 0.3%, and wheat rises 0.4%. (kirk.maltais@wsj.com)

0953 ET - Natural gas futures are down 0.3% to $3.017 per mmBtu, with trading centered around the $3 mark. Weather across the country remains the main factor weighing on natural gas prices. "Cooling rains in Texas may create more physical market weakness, and Week 3 warming is lowering projected heating demand," says EBW Analytics in a note. The upcoming storage report from the EIA is projected to show an injection of 64 bcf, according to a survey of analysts by WSJ. A surprise in either direction may spark a stronger move for natural gas, says EBW Analytics. (kirk.maltais@wsj.com)

0943 ET - Crude oil futures are higher, with December Brent up 1.8% to around $100 a barrel. "Supply concerns remain under the microscope, with the conflict continuing to drag on despite improved traffic through the Strait of Hormuz," says Peter Cardillo of Spartan Capital Securities in a note. Brent crude is outpacing WTI crude futures which are up 0.2% to around $91 a barrel--exhibiting the premium between Brent and WTI on the possibility of renewed attacks on oil infrastructure. (kirk.maltais@wsj.com)

0942 ET - Continental is expected to have had a strong third quarter and could upgrade its full-year guidance when the company reports earnings, UBS analysts write. "We would expect Continental to guide towards the very top end of the FY26 range, particularly given that Q4 is not typically a seasonally weaker quarter," they say. The German tire maker had forecast sales of between 13.2 billion euros and 14.2 billion euros and an adjusted EBIT margin of around 12.0%-13.5%. The analysts add that free cash flow is expected to be "neutral to slightly positive" in the third quarter, consistent with normal seasonal patterns. UBS has a buy rating on the stock and 90.00-euro target price. Shares are up 0.2% at 67.26 euros.(ian.walker@wsj.com)

0612 ET - Palm oil ended lower, weighed by both the overnight weakness in soybean oil on the Chicago Board of Trade and sluggish export demand, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Malaysia's September palm oil exports fell 17.1% on month to about 1.13 million tons, according to figures from cargo surveyor Intertek Testing Services. Ng pegs support for palm oil at 4,500 ringgit a ton and resistance at 4,650 ringgit a ton. The Bursa Malaysia Derivatives contract for December delivery ended 57 ringgit lower at 4,553 ringgit a ton. (sherry.qin@wsj.com)

0523 ET - Indonesia could sustain its trade surplus through 2027, though it is expected to remain modest as imports continue to grow faster than exports, RHB economist Wong Xian Yong says in a note. Export growth is expected to strengthen gradually, supported by downstream metal and manufacturing shipments and higher prices of some commodities, he says. Coal exports will likely stay weak, while palm oil could benefit from higher domestic biodiesel demand. Broader market access, including the Indonesia-EU trade deal, could support export diversification from 2027, he adds. Greater oversight of strategic commodity exports is also expected to improve transparency without materially disrupting shipments, RHB says. (yingxian.wong@wsj.com)

0427 ET - Food prices will likely remain the main source of upward inflation pressure for Indonesia through 4Q, as drier El Nino-linked conditions are expected to weigh on agricultural output, RHB's Wong Xian Yong writes. That prompts the economist to raise his 2026 Indonesia inflation forecast to 3.2% from 2.8%. He also expects food-price pressures to persist into early 2027. Government measures and ample rice stocks should limit broader price increases but may be less effective in offsetting shortages in weather-sensitive crops like chili, the economist says. Higher oil prices and a weaker rupiah could intensify inflation pressures, he adds. RHB expects Bank Indonesia to hold its policy rate at 5.75% in October, though persistent rupiah weakness remains a key risk. (yingxian.wong@wsj.com)

0423 ET - Silver prices rise in early European trading, but remain caught between supportive fundamentals and challenging macroeconomic conditions. Lower expectations for further U.S. interest rate hikes are providing some relief, while improving Chinese manufacturing data point to stronger industrial demand from electronics, solar and manufacturing, says Naeem Aslam from Zaye Capital Markets. However, elevated U.S. Treasury yields and a firm dollar continue to weigh on precious metals. Meanwhile, the physical market remains tight, with a sixth consecutive annual supply deficit expected this year, but solar manufacturers are reducing usage as high prices encourage greater efficiency, according to Aslam. Silver futures are up 0.5% at $60.90 a troy ounce.