Periodic Updates on the Futures Markets

November canola is up $3.70 per metric ton (mt), Dec soybean oil is up .52 cents per pound, November European rapeseed is up 2.00 euros per mt and December Malaysian palm oil is up .87%. Dec oats are down 1 1/2 cents per bushel. November crude oil is down $.10 per barrel, November ULSD is up $.0177 per gallon, and the December Canadian dollar is up .00015 at .71385. The December U.S. Dollar Index is down .261 at 98.280 and the November Brazilian real is up .00070 at 0.18320.

Grain and oilseed markets turned positive yet again during the day session with bargain hunting likely kicking in on anecdotal reports of disappointing row crop yields due to disease and/or drought, depending on the location in the Corn Belt, amid a lack of other news. Canola’s rally is taking prices clearly over the 25-day moving average with such a close-over being a positive technical sign (should gains be maintained).

In outside markets, there has been little in the form of changes throughout the morning with the lack of data not helping. Treasuries are quietly higher while energy and equity markets have turned mixed. The U.S. dollar remains under pressure. As a side note, the EIA weekly inventory report is not out until 11 a.m. CDT, not the regular time as I mentioned in the opening comments. And the metal that everyone loves currently (gold) is up another $84.20/ounce with a new record high of $4,289.90.