January canola is down $10.50 per metric ton (mt), March canola is down $9.60 per metric ton (mt), March soybean oil is down .72 cents/pound, February European rapeseed is down 4.75 euro per mt and February Malaysian palm oil is down 1.11%. March oats are down 2 3/4 cents/bushel. January crude oil is down $.12 per barrel, January ULSD is down $.0188 per gallon, and the December Canadian dollar is down .00080 at .72510. The December U.S. Dollar Index is up .146 at 98.490 and the December Brazilian real is down .00055 at 0.18385.

Unfortunately, the quick take is quite simple -- almost everything is under heavy selling pressure as midday nears. Grains, oilseeds, meats, metals, equities, energies, foreign and crypto currencies -- all under pressure. The only gains seen are in the U.S. dollar. The likely culprit -- heavy selling in the Treasury markets, causing an increase in interest rates with the 30-year bond leading the way. It has now taken out Wednesday's pre-Federal Reserve announcement low, pushing the U.S. 10-year note rate back up to 4.20%. Whether it's political, inflation or debt-concern related, the outcome is the same -- a jump in rates at a time when they should be falling, and it's quite concerning to most markets.

Soybeans, soybean oil and canola have taken the brunt of the selling in the grain and oilseed markets with soybeans looking like they will try to hit the head-and-shoulders top formation target of $10.70/bushel. Corn and wheat markets are holding up relatively well, considering.

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