Periodic Updates on the Futures Markets

January canola is up $.10 per metric ton (mt), Dec soybean oil is down .65 cents per pound, February European rapeseed is down .50 euros per mt and December Malaysian palm oil is down .22%. Dec oats are up 3/4 cents per bushel. December crude oil is up $.23 per barrel, December ULSD is up $.0051 per gallon, and the December Canadian dollar is up .00100 at .71540. The December U.S. Dollar Index is up .315 at 98.670 and the November Brazilian real is down .00005 at 0.18560.

Grain and oilseed markets came under pressure early in the day session along with commodities across the board. A violent selloff in gold may have had something to do with it but that’s unclear at this point. It’s worth noting the obvious, that the $300+/ounce range for the day in gold is not normal or healthy. Back to the remaining commodity prices, the general rule seems to be mixed amid a lack of data or conviction.

Outside markets are in the same boat it seems with no clear direction for most. The U.S. dollar is likely the greatest exception (other than weakness in the metal markets) with gains from overnight sticking so far.