November canola is down $5.20/mt, December soybean oil is down 1.07 cents/pound, November European rapeseed is down 1.00 euro/mt and November Malaysian palm oil is up 0.51%. December oats are up 1/4 cent/bushel, while November European corn is down 3.00 euros/mt. October crude oil is down $0.65/barrel, October ULSD is down $0.0745/gallon, and the September Canadian dollar is down 0.00265 at 0.72295. The September U.S. Dollar Index is up 0.170 at 99.050, and the September Brazilian real is down 0.00075 at 0.19405.

Going into the long weekend, grain and oilseed markets are repeating their pattern of the past few days with corn and soybeans both recovering from overnight weakness to trade higher at one point, albeit briefly so far. Continued attacks from both sides of the war between Russia and Ukraine back the Kremlin's view that "although peace is a possibility, there are currently no concrete signs of progress."

In the meantime, the 7-day precipitation outlook couldn't be much worse for either the wet Canadian Prairie (already delayed) harvest or the filling crops in the Corn Belt (due to hot and dry), providing good underlying support. On the demand side, another flash sale announcement was made Friday morning for 250,600 mt of soybeans to unknown (presumably China).

Outside markets are reacting to a strong August payroll report that implied a much healthier labor market than expected. Job gains of 162,000 far exceeded the pre-report estimate of 55,000 with an additional 55,000 added to June and July payrolls through revisions. In response, Treasury prices fell with the resulting jump in interest rates pressuring stock prices while helping the U.S. dollar. Energy markets have not really changed all morning.

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