Periodic Updates on the Futures Markets

January canola is down 9.00 per metric ton (mt), December soybean oil is down 1.61 cents per pound, European February rapeseed is down 7.50 euros per mt and January Malaysian Palm Oil is up 1.67%. March oats are down 1/4 cent per bushel. January crude oil is up .02 per barrel (bbl) and the December Canadian dollar is up .00235 at .7140. The US dollar index is down 1.023 at 105.945.

A sharply lower U.S. dollar, gains in palm oil and stable energy prices can’t seem to get the dark cloud hanging over the vegetable oils to disperse. They continue to trade as if most or all support for renewable diesel will disappear with the new administration. Given the impact such a change would have at the pump, the futures appear to be overreacting as usual. Pre-holiday trading is not helping the cause.