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

1043 ET - Corn and soybean futures on the CBOT are holding higher, this as rainfall continues to slow down the progress of farmers harvesting crops grown this spring and summer, says Joe Davis of Futures International in a note. "Rainfall associated with the remnants of Hurricane Polo is expected to affect a broad area from the Southwest through the Plains and into the Midwest," says Davis. "Excessive precipitation and localized flooding could keep producers out of fields and extend harvest delays, particularly across Iowa and surrounding western Corn Belt areas." Corn rises 0.4%, soybeans are up 0.8%, and wheat is down 0.5%. (kirk.maltais@wsj.com)

1022 ET - Lean hog futures are sliding again, with the most-active contract on the CME down 0.8% to 69.175 cents a pound. Futures were higher on Tuesday--suggesting that it may have been an aberration, not the start of a trend reversal. Fundamentals still point to more-than-adequate pork supply, says StoneX in a note. "We do have another seasonally larger slaughter and production rate on tap this week, where through two days our total harvest is up 30K head on last week's pace," says the firm. Live cattle futures rise 1.1% to $2.23225 a pound. (kirk.maltais@wsj.com)

0946 ET - Natural gas futures have fallen below the $3 per million British thermal units threshold. Futures are looking for support, says EBW Analytics in a note. But it being the end of the month, natural gas futures may soon stop their slide, EBW says. "Day-to-day production readings remain volatile and imprecise," says the firm. "Phantom first-of-month declines are probable tomorrow." But how long natural gas prices continues to fall depends on how long the weather stays warmer than normal in the eastern U.S. Natural gas futures are down 0.7% to $2.99 per mmBtu. (kirk.maltais@wsj.com)

0934 ET - Oil prices rebound as tensions in the Middle East remain high despite a recent pickup in exports that calmed supply fears. Brent crude November futures were up 0.9% to $103.52 a barrel, while the more-active December contract climbs 2.3% to $98.37 a barrel. Front-month West Texas Intermediate traded 1.8% higher at $90.99 a barrel. Brent is headed for a monthly ​gain of around 16%, while WTI is on track for a 9% rise. The U.K. Maritime Trade Operations said Wednesday that it received a report that a tanker transiting through the Strait of Hormuz was struck by an unknown projectile. Meanwhile, in Israel, Prime Minister Benjamin Netanyahu held an emergency meeting with security officials over the incident involving a FlyDubai flight that made an emergency landing in Saudi Arabia after one of the pilots was reportedly stabbed. (giulia.petroni@wsj.com)

0932 ET - Rising energy costs due to the war in Iran are now beginning to feed through to food and services prices in the eurozone, Jack Allen-Reynolds at Capital Economics says in a note. Inflation in the currency bloc's four largest economies exceeded consensus forecasts in September, pointing to a rise in headline eurozone inflation to 3.7% from 3.2% in August, he says. "We warned last week that higher energy costs might start to show up in other components of the inflation basket in September." Higher agricultural prices have pushed up food costs, while soaring jet fuel prices have lifted transport inflation, with core inflation expected to creep up in the coming quarters. Allen-Reynolds expects the European Central Bank to hold rates in October before raising in December. (don.forbes@wsj.com)

0928 ET - CBOT grain futures rise, ahead of the next quarterly stocks report from the USDA. The move higher is last-minute positioning before the report's release, says Matt Zeller of StoneX in a note. "No major surprises are expected but soybean stocks remain reasonably tight and dependent on a strong crop," says Zeller. Analysts surveyed by WSJ forecast corn stocks through September 1 at 1.92 billion bushels, soybean stocks at 323 million bushels, and wheat stocks are seen at 1.85 billion bushels. Corn stocks are expected to be higher than this time last year, while soybean and wheat stocks are seen lower. CBOT corn rises 0.5%, soybeans up 0.6%, and wheat climbs 0.7%. (kirk.maltais@wsj.com)

0924 ET - Crude oil futures are higher after trading lower Tuesday. Reports of potential sanctions relief being offered to Russia were a factor dragging oil down, says the Hightower Report in a note. "President Trump later denied those reports, which helped crude oil regain strength early in today's action," says the firm. Oil traders will also be looking for the EIA's weekly report, which analysts expect will show decreased inventories for U.S. crude oil and distillates. WTI crude is up 1.1% to $90.32 a barrel, while Brent crude futures rise 0.6% to $103.19 a barrel. (kirk.maltais@wsj.com)

0913 ET - Gold prices extend gains, but remain on track for a monthly loss of more than 6% as investors await U.S. inflation data for more cues on the Federal Reserve's interest-rate path. New York futures rise 1.6% to $4,245.20 a troy ounce. The rebound was supported by an easing dollar and falling U.S. Treasury yields after New York Fed President John Williams pushed back against expectations for an imminent follow-up Fed rate hike. "Attention now turns to September ADP employment and August personal spending and PCE inflation," says Fawad Razaqzada from Forex.com. "A stronger-than-expected core PCE reading could push October rate hike pricing higher again." (giulia.petroni@wsj.com)

0757 ET - The effects of higher energy costs on Johnson Matthey should be contained, and the business is well placed for sustainable shareholder returns, Jefferies analysts Helena Xu and Marcus Dunford-Castro write. The chemicals firm produces catalytic converters for combustion engines, and higher energy prices accelerate the shift to electric vehicles. "We believe the risk to JMAT is contained, given its underweight exposure to China where the acceleration is likely most pronounced," the analysts write. Jefferies reiterates its buy rating on the stock and ups its price target to 26.60 pounds from 23.30 pounds. Shares are 1.7% higher at 24.20 pounds but are down 17% year to date. (joseph.wilkins@wsj.com)

0606 ET - Palm oil closed lower in Asia, pressured by weaker export demand, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Malaysia's palm oil exports from Sept. 1-30 are estimated to have declined 29% on month, according to cargo surveyor AmSpec Agri Malaysia. Continued concerns over rising inventories in Malaysia could also have weighed on prices, Ng said. He pegs support for palm oil at 4,550 ringgit a ton and resistance at 4,700 ringgit a ton. The Bursa Malaysia Derivatives contract for December delivery ended 12 ringgit lower at 4,612 ringgit a ton.(amanda.lee@wsj.com)

0516 ET - The Kuala Lumpur Composite Index is set to have a wider buffer around its expanded 50-stock gauge, CIMB Securities' Ivy Ng Lee Fang says in a note. With inclusion and deletion thresholds revised to 40th and 61st, respectively, from 25th and 36th, the risk of frequent index turnover is reduced, the analyst writes. The changes will take effect with the December review as the KLCI expands to 50 constituents from 30. Based on Sept. 28 market-cap data, Ng says Unisem and Kelington could enter the index, replacing Genting Malaysia and Malayan Cement. Westports, United Plantations, Vitrox and Sime Darby are among others that could be included, she adds. The final list will be based on market-cap data as at Nov. 23. (yingxian.wong@wsj.com)

0339 ET - Gold prices rise more than 1% as U.S. Treasury yields retreat from multiyear highs and traders scale back expectations for another Fed rate hike in October. In early European trading, gold futures are up 1.1% to $4,228 a troy ounce. New York Fed President John Williams indicated that the central bank doesn't need to rush to raise rates following September's increase, prompting investors to cut the implied probability of an October hike to 42.6%, from 70% earlier this week, according to the CME FedWatch Tool. Focus now shifts to U.S. PCE inflation data and Friday's payrolls report, which will be key in shaping expectations for the Fed's next move and near-term direction of gold, according to analysts.