Periodic Updates on the Futures Markets

January canola is up another 6.40 metric ton (mt), December soybean oil is up 1.36 cents per pound, European February rapeseed is up 7.75 euros per mt and January Malaysian palm oil is up 1.65%. December oats are down 8 1/2 cents per bushel. December crude oil is up .11 per barrel (bbl) and the December Canadian Dollar is back up .0030 at .7216. Vegetable oil markets are displaying their relative strength again at midday. Canola looks like it wants to try to test the consolidation high at $660/mt soon, following its outside reversal higher Wednesday. Buying soybean oil and selling meal as a spread is very active again with continued strength in palm oil supportive. In outside markets, the U.S. 10-year has pulled back a bit ahead of the FOMC rate announcement at 4.36% currently. The U.S. dollar has given back part of Wednesday’s gains as a result while equites maintain their strength.