March canola is up $3.10 per metric ton (mt), March soybean oil is up .33 cents/pound, May European rapeseed is up 1.00 euro per mt and February Malaysian palm oil is up .64%. March oats are down 3 cents/bushel. February crude oil is up $1.08 per barrel, February ULSD is up $.0973 per gallon, and the March Canadian dollar is up .00475 at .72505. The March U.S. Dollar Index is down .946 at 98.255 and the February Brazilian real is up .00025 at 0.18590.

Grain and oilseed markets are very quiet compared to the volatility seen in outside markets as a result of the political developments seen over the long weekend.

The U.S. dollar, stocks, and bonds all remain sharply lower on the economic uncertainty surrounding President Trump's tariff threats over Greenland. All sides seem to be digging in for a fight so expect the related volatility to remain for the foreseeable future.

Silver has backed off a bit, but gold remains near its new record high, currently up $150.60/ounce on the day on shaken confidence in the U.S. dollar as a reserve currency. Energy markets have added to their early gains with heating oil (diesel) and natural gas leading the way higher thanks to the current cold snap hitting the northeast U.S. In fact, natural gas futures are up an astounding 25% on the day.

Canola has spent most of the day holding minor gains while soybean oil had a bit of an extension of recent advances thanks to the sharp rally in diesel prices. It has given back about half of that so far but with soybeans cutting losses, it looks poised to have a solid close. Soybeans are nearly unchanged with reports circulating that China has completed the purchase of all 12 mmt of soybeans as part of the trade deal with the U.S (to be shipped between December and May). That said, concerns over exports to Europe remain a wet blanket on ag markets in general.

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