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

1542 ET - Livestock futures lose ground with cattle falling 1.2% to $2.1095 a pound as imports of Mexican cattle resume in Arizona, while lean hogs settle down 0.8% at 80.45 cents a pound amid lower pork cutout prices. The USDA's cold storage report showed beef in freezers at 382.7 million pounds as of July 31, down 1.6% from June and 3.8% lower than a year earlier. Frozen pork in storage was 439.4 million pounds, down 3.4% from the previous month but up 8.6% on the year.(anthony.harrup@wsj.com)

1514 ET - Oil futures post back-to-back losses as the U.S. tightens the economic squeeze on Iran, raising expectations the measures could bring Iran to the negotiating table. Iran held more talks with Oman about establishing a safe shipping route through the Strait of Hormuz, with the Omani foreign ministry saying a temporary corridor could be announced soon. "Future management of the strait and a permanent solution will follow in due course, as per article 5 of the Islamabad Memorandum," the ministry said. The U.S. rejects Iranian intentions of controlling or charging tolls to cross the strait, and maintains its blockade of Iranian ports. WTI settles down 3.1% at $82.36 a barrel, and Brent falls 3.9% to $88.58.(anthony.harrup@wsj.com)

1511 ET - Natural gas futures end slightly lower after two days of gains, held up in part by forecasts for continuing heat across the southern two-thirds of the country. "Monday's push into price territory not seen since late July failed to develop into a breakout, prompting traders who had followed the rally higher to lock in gains," Gelber & Associates says in a note. Late-August weather-driven demand remains supportive, "but the seasonal calendar is becoming more important as cooling load begins to fade," the firm adds.Nymex natural gas settles down 0.4% at $2.770/mmBtu.(anthony.harrup@wsj.com)

1353 ET - Black Sea grain export disruptions due to the Russia-Ukraine war continue supporting prices, especially wheat, and are pushing importers to other sources of supply, analysts at Rabobank say in a report. If Black Sea capacity remains impaired, more business could move to Australia, the EU, Argentina, Canada, and the U.S. "That shift would support export premiums and global wheat futures, depending on crop availability, freight spreads, and the pace at which Russia and Ukraine restore dependable shipment programs," they say. CBOT wheat is up 0.4%. (anthony.harrup@wsj.com)

1237 ET - The American Soybean Association says greater small refinery exemptions for compliance with the 2025 Renewable Fuel Standard could deliver long-term damage to soybean farmers. Reports that exemptions could far exceed previous government projections would deliver "a major blow to domestic biofuel demand when U.S. soybean farmers can least afford it," the ASA says. If the EPA approves small refinery exemption petitions at levels that significantly exceed its earlier assumptions, it could eliminate around 500 million gallons of biomass-based diesel demand, costing U.S. soybean farmers around $1 billion in lost revenue, the association says.(anthony.harrup@wsj.com)

1208 ET - Corn futures move higher after some early profit-taking, with the market still concerned about lower yields following the Pro Farmer Crop Tour. "The trade is showing much more concern over this one after the USDA cut its yield estimate this month and the Pro Farmer Crop Tour unearthed further concerns and published a bullish yield estimate past that," StoneX senior grains analyst Matt Zeller says in a note. On Monday, the USDA reported the corn crop condition at 57% good or excellent, down from 60% the week before and 71% a year earlier. CBOT corn is up 0.7%.(anthony.harrup@wsj.com)

1147 ET - Live cattle futures are lower after imports of Mexican cattle resumed in Arizona, and Agriculture Secretary Brooke Rollins says the U.S. plans to open two ports in New Mexico within two months. Mexican cattle imports were banned for more than a year in response to a New World screwworm outbreak. There are no plans to open Texas ports to cattle anytime soon, Rollins said. Live cattle on CME are down 1.1% at $2.1125 a pound. Lean hogs are off 0.8% at 80.45 cents a pound. (anthony.harrup@wsj.com)

1105 ET - Private exporters reported sales of 132,000 metric tons of soybeans to unknown destinations for the 2026/27 marketing year, the USDA says. Soybean sales to unknown destinations are often thought to be bound for China. China is expected to keep securing U.S. soybeans with purchases by the end of the week adding up to 11.5 million-12 million tons, AgResource says in a note. "The trade will be on alert for China to make goodwill purchases of soybeans and potentially U.S. grain ahead of the Sept. 24 Trump/Xi summit in the U.S.," the firm says. CBOT soybeans are up 0.2%. Corn is up 0.1% and wheat down 0.3%. (anthony.harrup@wsj.com)

1009 ET - Grains futures are slightly lower, led by wheat, while corn slips after rallying on the Pro Farmer Crop Tour's low yield estimate. "Bullish news seems to be priced in for now. Overall prices are likely very well supported fundamentally, but without fresh bullish news, look for a simple price correction," Naomi Blohm of Total Farm Marketing says in a note. Wheat is off 0.6% on CBOT. Corn is down 0.1% and soybeans are practically flat. (anthony.harrup@wsj.com)

0912 ET - U.S. natural gas futures fall back after rising the previous two sessions with support from extended summer weather. "This market appears to be seeing some bearish spillover from the sharp decline in the oil complex," Ritterbusch & Associates says in a note. The possibility of another weather-driven spike higher will diminish as the October contract moves to the front of the curve this week, the firm says. The market "will require some evidence of production slippage or an increase in export activity if the sizable storage surplus is to see a meaningful reduction in the coming weeks." Nymex natural for September delivery is down 2.8% to $2.704/mmBtu. (anthony.harrup@wsj.com)

0853 ET - Oil futures lose more ground with the market seeing stepped-up U.S. economic pressure on Iran more likely to lead to negotiations than military escalation. "Some signs of diplomacy out here in what is a long market and likely making it worse as Pakistan is delivering a peace offer to Iran and the U.S. is returning staff to their posts in the Middle East," Scott Shelton of TP ICAP says in a note. "The near term looks like the U.S. Treasury has bought some time for the oil market in terms of generating enough fear to end the buying for now from speculators." The New York Times reported that the U.S. is preparing to return diplomats to their posts in the Middle East. WTI is off 3.1% at $82.42 a barrel, and Brent is down 3% at $89.40 a barrel. (anthony.harrup@wsj.com)

0524 ET - Gold Fields' first-half earnings are unlikely to deliver material changes to consensus expectations, J.P. Morgan analysts write. This is after the miner backed its guidance and delivered results in line with its trading update, they say. Shares are up 0.9% to 76,493 South African cents.