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Plains, Prairies Quick Takes
10/02 11:04 AM

November canola is up $4.70 per metric ton (mt), Dec soybean oil is down .17 cents per pound, November European rapeseed is down 3.50 euros per mt and November Malaysian palm oil is up .22%. Dec oats are down 2 3/4 cents per bushel. November crude oil is down $.95 per barrel, November ULSD is down $.0460 per gallon, and the December Canadian dollar is down .00220 at .71760. The December U.S. Dollar Index is up .399 at 97.780 and the October Brazilian real is down .00145 at 0.18500.

Canola has been able to build on early gains as the morning has progressed thanks to similar moves in soybeans (despite soybean oil losing its strength). With the lack of information thanks to the government shutdown, it is unclear if export interest may be at play, but grains and oilseeds are higher across the board (other than soybean oil and European rapeseed).

Outside markets also appear to be lost amid the data void with Treasuries and equities both mixed now while the U.S. dollar has staged an impressive rebound from early losses. Energy markets are the one thing that has remained constant, as selling ahead of the weekend OPEC+ meeting seems relentless. Builds in U.S. inventories and concerns over economic damage from the shutdown don't help.

 
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