November canola is up $3.20 per metric ton (mt), Dec soybean oil is up .18 cents per pound, November European rapeseed is up 3.25 euros per mt and December Malaysian palm oil is up .07%. Dec oats are down 4 1/4 cents per bushel. November crude oil is down $.26 per barrel, November ULSD is down $.0170 per gallon, and the December Canadian dollar is up .00005 at .71455. The December U.S. Dollar Index is down .335 at 98.475 and the October Brazilian real is up .00075 at 0.18290.

Grain and oilseed markets have turned positive with bargain hunting likely kicking in on anecdotal reports of disappointing row-crop yields due to disease and/or drought, depending on the location in the Corn Belt, amid a lack of other news.

On the north side of the border, Ontario Premier Doug Ford threw a wet blanket on hopes for a quick resolution to the Chinese canola tariffs when he responded to the suggestion of cancelling Chinese EV import tariffs with "no damn way." It seems the Team Canada approach only works if it is in the best interest of Eastern Canada with the battle in Ottawa over the issue clearly far from over. That took the wind out of canola's sales with prices only mildly higher at midday. That said, it still puts November canola right at the 25-day moving average again. A close over would be a positive technical sign.

In outside markets, there has been little in the form of changes throughout the morning with the lack of data not helping. Treasury and energy markets remain mixed while equities continue to trade at sharply higher levels, focussing on lower interest rates to come. That may be contributing to further weakening in the U.S. dollar. As a side note, the EIA weekly inventory report is delayed until Thursday due to Monday's holiday.

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