Periodic Updates on the Futures Markets

May canola is up $1.30/mt, May soybean oil is up .29 cents/pound, May European rapeseed is down 4.00 euro per mt and April Malaysian palm oil is down .60%. May oats are up 5 3/4 cents/bushel. April crude oil is down $.66 per barrel, April ULSD is up $.0230 per gallon, and the March Canadian dollar is up .00030 at .73225. The March U.S. Dollar Index is down .246 at 98.760 and the March Brazilian real is up .00205 at 0.19070.

Most grain and oilseed markets are trading lower as profit-taking appears to be impacting overbought oilseed and energy markets. That said, soybean oil, canola and diesel futures are trying to hold their own with small advances seen.

With little fresh news to go on, energy prices are now mixed while traders monitor attempts to get traffic flowing through the Strait of Hormuz. Even when it does, a return to normal is not expected anytime soon, suggesting pullbacks may be buying opportunities for those wanting or needing to do so.

In outside markets, Treasuries remain under pressure following strong economic and labor market data with stocks rallying on the same influences. Despite that, the U.S. dollar continues to trade lower on the day, allowing precious metals to maintain overnight gains.