Periodic Updates on the Futures Markets

November canola is up $2.30 per metric ton (mt), Dec soybean oil is up .04 cents per pound, November European rapeseed is up 2.00 euros per mt and November Malaysian palm oil is up 1.05%. Dec oats are down 3/4 cent per bushel. November crude oil is up $1.36 per barrel, November ULSD is up $.0299 per gallon, and the December Canadian dollar is down .00240 at .72240. The December U.S. Dollar Index is up .572 at 97.465 and the October Brazilian real is down .00105 at 0.18790.

Grain and oilseed markets are mixed after a recovery from overnight lows in the early stages of the old pit trading hours. Canola and soybean oil have been able to hold part of their gains while the row crops have turned back down (slightly). The greatest influence on the ag market quiet trade may be the increasing strength in energy markets. Drawdowns in crude oil and the products are adding to increased geopolitical risks to push prices up to their daily highs.

In outside markets, it appears as though concerns over inflation and the persistence of the Fed to remain focused on it is impacting trade as Treasuries and equities have turned lower on the day while the U.S. dollar has extended its earlier gains.