January canola is down $5.70 per metric ton (mt), March soybean oil is down .31 cents per pound, February European rapeseed is down 5.00 euro per mt and January Malaysian palm oil is down 1.84%. Dec oats are down 7 1/4 cents per bushel. January crude oil is down $1.21 per barrel, January ULSD is down $.0698 per gallon, and the December Canadian dollar is down .00115 at .70940. The December U.S. Dollar Index is up .200 at 100.290 and the December Brazilian real is down .00210 at 0.18470.

Grain and oilseed markets have mounted a recovery from overnight lows with soybeans leading the way. Corn, soybeans, soybean meal and wheat have all turned positive heading into midday while soybean oil and canola continue to lag thanks to ongoing declines in energy prices. Pressure on Ukraine to agree to a peace plan worked out between the U.S. and Russia or lose American support has energy traders assuming Russian oil will become more readily available sooner rather than later. Based on President Zelensky's public address, he clearly does not want to accept the terms with it potentially coming down to a European influenced decision.

In outside markets, bitcoin remains sharply lower but has stabilized, allowing bargain hunting to set in across a number of markets beyond just the grains and oilseeds. Equities and metals are now higher with Treasuries giving up much of their earlier gains. The U.S. dollar is holding onto its gains amid all the various influences, trading above the recent reaction high and suggesting the double-bottom target of 104 will be on traders' minds.

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