Periodic Updates on the Futures Markets

January canola is down 11.30 per metric ton (mt), December soybean oil is down .33 cents per pound, European February rapeseed is down 1.00 euro per mt and January Malaysian palm oil is down 0.86%. December oats are up 10 1/4 cents per bushel. December crude oil is up .18 per barrel (bbl) and the December Canadian dollar is down .0008 at .71425. Grains and oilseeds are under pressure as momentum to the downside seems to be feeding on itself. A reversal lower for the U.S. dollar thanks to a similar reversal in interest rates has provided no relief so far. Vegetable oil markets (with the exception of canola) have the smallest losses at midday while corn has finally succumbed to the pressure. That, despite a new record being set for weekly ethanol production as reported Thursday.