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

1209 ET - Above-average temperatures are moving out of the U.S. Corn Belt, according to the latest forecast from the NOAA's Climate Prediction Center. The updated 6-10 day forecast shows northern Plains states seeing near-normal temperatures, while above-average temperatures move south. States like North Dakota, South Dakota, and Minnesota are now seeing cooler temperatures, this while receiving more precipitation than normal. However, in its 8-14 day forecast, that heat appears to slowly return to those northern states. CBOT grain futures are up in midday trading, with most-active corn up 0.5%, soybeans up 1.2%, and wheat up 0.5%. (kirk.maltais@wsj.com)

1208 ET - With little to move sentiment outside of the USDA's WASDE report and intensifying conflicts overseas, CBOT grains are up in midday trade. Soybeans appear to be setting the pace, says Charlie Sernatinger of Marex in a note, and that's not likely to change over the course of the afternoon. Soybeans have been getting the most support in the grains complex, due in part to optimism around soybean oil in renewable fuels usage. Soybeans are up 1.5%, with soymeal up 1.2% and soyoil up 1.6%. Corn is up 0.9%, and wheat climbs 1%. (kirk.maltais@wsj.com)

1047 ET - U.S. natural gas inventories rose more than expected last week, while the increase was small enough to reduce the storage surplus over the five-year average. Underground storage rose by 40 billion cubic feet to 3,254 Bcf, or 148 Bcf more than the 2021-2025 average, the EIA says. The storage injection was larger than the 28 Bcf estimate in a WSJ survey of analysts, but smaller than the five-year average 52 Bcf build for the week. Nymex natural gas futures are off 1.6% at $2.777/mmBtu. (anthony.harrup@wsj.com)

1022 ET - U.S. natural gas futures are lower for a third straight session as the market awaits inventory data from the EIA while focusing on coming mild weather. "A third failed attempt at $3.00/mmBtu has recast momentum steeply lower," Eli Rubin of EBW Analytics says in a note. A widening year-over-year storage deficit could provide near-term support for prices, although a key driver of weakness remains the winter strip with robust end of season storage, increasing production and prospects of a mild winter weighing, he adds. Nymex natural gas is off 1.6% at $2.776/mmBtu. (anthony.harrup@wsj.com)

1018 ET - The El Niño system that's in place now is getting stronger, enough so that the NOAA's Climate Prediction Center now views there to be a "greater than 90% chance of a very strong event" in the Northern Hemisphere this fall into this winter. The Climate Prediction Center classifies an event as 'very strong' if the average sea surface temperature deviates more than 3 degrees Celsius higher. An El Niño climate system tends to create mild winters for the northern U.S., while the southern U.S. gets hit with hurricanes potentially exacerbated by the warmer waters. (kirk.maltais@wsj.com)

1015 ET - Most-active live cattle futures are down 0.1% while lean hogs rise 0.1%. The Goldman roll, the monthly time period where the S&P GSCI rolls expiring commodity futures contracts forward to new ones, continues to be a main factor in livestock futures. Volumes are light for both contracts, says the Hightower Report in a note, but there are some signs that a price rebound could be coming. "We see technical signs the market has turned the corner to a potentially more bullish phase, but prices need an upside recovery to finish the week to keep the weekly chart in a positive mode." (kirk.maltais@wsj.com)

1010 ET - Grain futures trading at multi-year highs this year prompted hopes for farmers who have suffered from past low commodity prices and inflated input costs for fertilizer and seeds. But surging fuel prices from wars overseas threaten to evaporate any benefit from those higher crop prices. According to AAA, current retail diesel prices set a new high, at $5.9773 a gallon. For farmers, this means harvesting may prove to be an even-steeper expense than anticipated. Last week, the USDA forecast 2026 net farm income at $158.4 billion--up from its previous forecast of $153.4 billion. (kirk.maltais@wsj.com)

1010 ET - The USDA has announced another round of flash sales of U.S. grain exports. The agency says that 272,000 metric tons of soybeans have been sold to China for delivery in the 2026/27 marketing year, while an additional 206,500 tons of soybeans were reported as being "received" by the USDA for delivery to unknown destinations, also for 2026/27. It's the second flash sale to China reported in the shortened holiday week, with the first being 340,000 tons of soybeans sold to China reported on Tuesday. CBOT grains are higher pre-market, with corn up 0.8%, soybeans up 0.8%, and wheat up 0.7%. (kirk.maltais@wsj.com)

0958 ET - Oil futures are sharply higher with WTI hitting $100 a barrel for the first time since May amid increased military strikes between the U.S. and Iran and Houthi advances toward the Bab el-Mandeb strait. "The move is raising fresh concerns about the security of global energy supplies," Fawad Razaqzada of Forex.com says in a note. "A sustained move above $100 in WTI would put renewed upward pressure on inflation expectations." WTI is up 4.1% at $99.95 a barrel and Brent is 3.8% higher at $105.10 a barrel. (anthony.harrup@wsj.com)

0954 ET - Gold and silver futures are lower in the wake of the report showing U.S. producer prices accelerating in August. The decline in precious metals comes amid a rise in yields to at least three-year highs, Peter Cardillo of Spartan Capital says in a note. Both metals have held the lower limits of their recent pullbacks, he adds. "This is a positive sign and suggests that yields may become less of a negative factor for precious metals going forward." Gold for December delivery is off 1.1% in New York at $4,411.70 a troy ounce. Silver falls 5.1% to $65.115 a troy ounce.(anthony.harrup@wsj.com)

0935 ET - CBOT grain futures are higher ahead of Friday's WASDE. With the report expected to provide updates on expected output for this year's corn and soybean crops, traders are girding themselves for what may be fitful action on the CBOT. "It's only 24 hours away from the crop report, which will undoubtedly give some quick volatility," says Joe Davis of Futures International. "Ranges for yields [are] still as wide as the Grand Canyon." Most-active corn rises 0.5%, soybeans are up 0.8%, and wheat climbs 0.2%. (kirk.maltais@wsj.com)

0932 ET - Bitcoin falls sharply on the release of U.S. inflation data. The producer-price index rose by 0.4% in August, in line with economists' forecasts. Bitcoin falls 1.8% to $76,866.11. Ether also falls sharply, dropping 2.1% to $2,415.76. Markets increased their bets on a Federal Reserve rate hike next week, with the probability of a quarter-point increase rising to 69.6%, according to LSEG. The prospect of higher interest rates makes non-yielding assets like cryptocurrencies less attractive.