Periodic Updates on the Futures Markets

The canola market is $2.40 lower at $617.20 as palm oil and rapeseed markets are lower, while U.S. soybean oil is slightly higher, up 0.11 cent. December corn is down 4 cents per bushel, November soybeans are up 1/2 cent, December KC wheat is down 7 1/4 cents, December Chicago wheat is down 7 1/2 cents and MIAX December Minneapolis wheat is down 5 1/2 cents.

The Canadian dollar is down 0.00041, the U.S. Dollar Index is down 0.300 and November crude oil is up $1.17 per barrel.

Crude oil is posting strong gains Friday morning and will likely finish the week higher, due in part to Ukraine’s continued attacks on Russian oil infrastructure. With more rain expected in Saskatchewan Friday, canola harvest will be on hold. Saskatchewan’s crop report noted as of Sept. 22, 42% of the canola crop on average is combined. The report also noted that due to the rains and high humidity, areas with cereal crops still in the field are already seeing poor quality and sprouting.