U.S. markets are all higher after the White House announced Sunday that China agreed to buy at least $17 billion in agricultural products and on top of the soybean commitment they made last October. This news has pushed all the ag markets higher this morning. Separately, the crude oil market is higher as a peace agreement between the U.S. and Iran once again seems unlikely.

July corn is up 18 1/2 cents per bushel, July soybeans are up 37 cents, July KC wheat is up 12 1/4 cents, July Chicago wheat is up 23 1/2 cents and MIAX July Minneapolis wheat is up 16 3/4 cents. Soybean oil is 1.62 cents, and crude oil is up $1.31 bbl.

There is no canola market today due to Victoria Day. Planting across the prairies has been hampered by snow and dust storms, pausing seeding progress. In the Friday Alberta crop report, it was noted that while seeding progress for major crops is 20% complete across the province due to improved conditions, it remains below the 5 and 10-year averages. Canola was 5% seeded as of May 11. The Saskatchewan report as of May 11 showed canola was 7% seeded. Strong winds on Friday covered much of the prairies, causing dust storms and stopping farmers from progressing. Environment and Climate Change Canada issued a dust warning as gusts topping 90 kilometres per hour were expected. Canola market will reopen Tuesday, 5-19.

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