Periodic Updates on the Futures Markets

March canola is down $4.60 per metric ton (mt), March soybean oil is up .09 cents/pound, May European rapeseed is down 2.75 euro per mt and February Malaysian palm oil is up .26%. March oats are up 2 3/4 cents/bushel. March crude oil is down $.25 per barrel, March ULSD is up $.0255 per gallon, and the March Canadian dollar is up .00060 at .73180. The March U.S. Dollar Index is down .634 at 96.770 and the February Brazilian real is up .00070 at 0.18945.

Grain and oilseed markets have given up overnight gains for the most part with soybean oil the only one able to hold on to the positive side of unchanged. Continued strength in heating oil (diesel) and natural gas likely helps with that thanks to the extreme cold weather. The only news cited for the midday weakness is concerns over trade tensions as the president continues to threaten various countries almost daily, as well as the potential for the extreme cold to impact grain and oilseed exports and domestic processing.

A very weak U.S. dollar is not providing much support to commodities other than precious metals with those remaining near their new record highs, at least not yet anyway.

In the meantime, treasury markets remain quietly higher while equities have recovered from Sunday evening’s sharply lower open to trade higher on the day.