November canola is down $13.20/mt, December soybean oil is down 0.92 cents/pound, November European rapeseed is down 1.75 euro/mt and November Malaysian palm oil is closed for holidays. December oats are down 2 cents/bushel, while November European corn is down 1.25 euros/mt, setting new contract highs. October crude oil is up $2.22/barrel, October ULSD is up $.1663/gallon, and the September Canadian dollar is up 0.00235 at 0.72190. The September U.S. Dollar Index is down 0.288 at 99.370, and the September Brazilian real is up 0.00090 at 0.19295.

Month-end profit-taking continues to weigh on most of the ag markets, with wheat seeing the greatest losses. Canola and soybean oil have given back a good part of Friday's gains as well in anticipation of a final ruling from the EPA regarding 2025 small refinery exemptions (SREs). Soybeans and corn have traded on both sides of unchanged while waiting for the calendar to flip to September.

Statistics Canada's first model-based field crop production estimates mentioned in the opening comments disappeared, quite literally. The original release schedule had the first estimate set for Aug. 31, 2026, carrying on the previous pattern with the 2025 version released on Aug. 28. When nothing was published and the schedule checked, it was gone altogether, with just one estimate now scheduled for Sept. 16, 2026 (instead of the previous two).

Energy markets remain sharply higher on the greatest escalation in attacks between Iran and the U.S. in over a month. Diesel remains on the verge of making a new contract high while gasoline futures already have. Crude oil has backed off from its best levels of the day but remains sharply higher.

In outside markets, stocks and bonds are both under pressure from the inflationary impact of rising energy prices, while the prospect of higher interest rates has so far failed to turn the U.S. dollar higher.

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