Periodic Updates on the Futures Markets

January canola is up $17.40 per metric ton (mt), March canola is up $16.40 per metric ton (mt), March soybean oil is up .43 cents/pound, February European rapeseed is up .50 euro per mt and February Malaysian palm oil is up .75%. March oats are down 2 cents/bushel. February crude oil is up $1.21 per barrel, February ULSD is up $.0227 per gallon, and the December Canadian dollar is up .00220 at .73040. The March U.S. Dollar Index is down .282 at 97.970 and the January Brazilian real is down .00130 at 0.17910.

Not much has changed since the opening comments with grain and oilseeds higher along with most commodities. Canola is extending its bounce while most are just maintaining. Given how oversold canola was, it’s not surprising, especially with Prime Minister Carney sounding upbeat about repairing relations with China.

Export figures were positive again this morning with another 396,000 mt flash soybean sale to China announced early on. Then a delayed export sales report for the week ended Dec. 4 was strong with 1.479 mmt of corn sales and 1.552 mmt of soybean sales. Finally, the weekly export inspections report was similar with 1.744 mmt of corn inspected for export while only 870,000 mt of soybeans were as the China sales just started flowing. 

In outside markets, Treasuries remain quietly lower while equities are trading higher amid a lack of news. Energy products have given back some of their gains while crude oil remains near its highs and the U.S. dollar near its low.