July canola is down $8.40/mt with November canola down $8.50/mt, July soybean oil is down .77 cents/pound, August European rapeseed is down 8.50 euro per mt and August Malaysian palm oil is up .47%. July oats are down 9 1/4 cent/bushel. July crude oil is down $4.46 per barrel, July ULSD is down $.1202 per gallon, and the June Canadian dollar is down .00025 at .71515. The June U.S. Dollar Index is down .285 at 99.460 and the July Brazilian real is up .00055 at 0.19710.

Grain and oilseed markets are finally trying to disconnect from energy markets with almost all but soybean oil and canola now higher after bouncing in early trade despite continued weakness in energies. Even canola and soybean oil have bounced, recovering well over half their peak overnight losses. Bargain hunting amid oversold conditions can likely take the credit.

Energy markets remain sharply lower despite all the things that could go wrong before a potential signing of an agreement on Friday. An Israeli drone strike has already killed a driver in South Lebanon, an oil tanker has already been fired upon, the U.S. blockade of Iranian ports will remain in effect until an agreement has been signed, and by Iranian reports, the U.S. appears to have conceded to all of their demands, something that may get enough pushback this week (from within the U.S. and from partnering countries) for progress to be derailed. But for now, none of that matters to traders.

Outside markets are celebrating with stocks approaching record highs again and bonds higher, lowering interest rates. The U.S. dollar is near the lows of the session on the optimism.

(c) Copyright 2026 DTN, LLC. All rights reserved.