November canola is down $2.50/mt, December soybean oil is down .08 cents/pound, November European rapeseed is down 1.25 euro/mt and September Malaysian palm oil is down .33%. December oats are down 7 cents/bushel while November European corn is down 2.00 euros/mt. August crude oil is down $.24/barrel, August ULSD is up $.0867/gallon, and the September Canadian dollar is up .00040 at .71445. The September U.S. Dollar Index is up .216 at 100.490 and the August Brazilian real is down .00060 at 0.19560.

Grain and oilseed markets have turned lower on profit taking following the rallies seen in July with a mediocre (at best) weekly export sales report being enough of an excuse to trigger selling at various resistance levels. For corn, prices turned down from resistance at $4.70/bushel and the 100-day moving average, so far anyway. As mentioned in today's blog at https://www.dtnpf.com/…, a retreat is a bearish sign which may be attracting additional selling interest.

Nothing else has changed to improve the fundamental outlook, with both weather and wars looking problematic for both production and shipping.

Energy markets are mixed with diesel adding to overnight gains while the remainder of the complex pulled back slightly. That has put ULSD close to contract highs again, providing support for soybean oil and canola.

Outside markets are also taking a breather with treasuries trading quietly lower and stocks mixed. The U.S. dollar has added to its overnight bounce following Wednesday's break.

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