Periodic Updates on the Futures Markets

January canola is down 9.80 per metric ton (mt), December soybean oil is down 1.20 cents per pound, European February rapeseed is down 7.50 euros per metric ton (mt) and January Malaysian palm oil is down 3.31%. December oats are down 5 3/4 cents per bushel. January crude oil is up .12 per barrel (bbl) and the December Canadian dollar is down .0020 at .7147.

Canola is under pressure with global vegetable oil weakness, led by palm oil, more than offsetting a weaker Canadian dollar. A sharply higher U.S. dollar continues to make life difficult for export commodities with a challenge of the 2023 high near 107 looking almost certain. Add interest rates creeping higher and geopolitical risk and you end up with equities turning lower on the day.