Periodic Updates on the Futures Markets

OMAHA (DTN) — January canola is up 10.20 per metric ton (mt), December soybean oil is up .31 cents per pound, European February rapeseed is up 7.50 euros mt and December Malaysian palm oil is up 2.34%. December oats are up 1 3/4 cents per bushel. December crude oil is down .45 per barrel and the Canadian Dollar is down .00105 at .71975. Canola is relatively strong compared to other vegetable oil markets (with the exception of palm oil) at midday. A weaker Canadian dollar and ideas Monday’s losses were overdone are helping canola ignore the downturn in crude oil. The gaps lower during Sunday evenings’ open for both December crude oil and soybean oil remain intact, not a good technical look.