Periodic Updates on the Futures Markets

OMAHA (DTN) — January Canola is down 2.90 per metric ton (mt), December Soybean Oil is down 0.18 cents per pound, European February Rapeseed is down 1.75 Euros per mt and December Malaysian Palm Oil is down 1.12%. December Oats are up 1/4 cents per bushel. December Crude Oil is up 1.64 per barrel and the Canadian Dollar is down 0.0014 at 0.72155. Canola is slightly weaker at midday with vegetable oil markets correcting but still demonstrating relative strength over the soybeans and soybean meal. Energy markets have firmed, potentially over geopolitical concerns going into the weekend. At this rate, it wouldn’t be surprising to see energy strength pull canola and soybean oil higher by the close. Weakness in soybeans, corn and wheat could be tied to this afternoon’s option expiry with rains forecast for both Americas likely providing weight.