January canola is up $2.00 per metric ton (mt), March soybean oil is down .20 cents per pound, February European rapeseed is up 2.50 euro per mt and January Malaysian palm oil is down .17%. Dec oats are down 2 1/2 cents per bushel. January crude oil is down $.08 per barrel, January ULSD is down $.0697 per gallon, and the December Canadian dollar is down .00155 at .71080. The December U.S. Dollar Index is down .046 at 100.105 and the December Brazilian real is down .00015 at 0.18695.

Selling has resumed (almost) across the board as everything from the soybean complex to grains to cattle to energies to cryptocurrencies to metals have come under selling pressure as midday approaches. Even the stock market has given up most of its significant gains from early trading with it at risk of turning lower as well. The lack of an explanation is somewhat unsettling.

Canola, European rapeseed and hogs are the lone exceptions for commodities, and most of the morning gains have been given back in those cases.

Treasury markets are the only ones showing consistent strength as the September non-farm payroll report Thursday morning contained a slightly higher than expected unemployment rate for the period (4.4% versus 4.3% expected). Even though the data is outdated, it does remind the market of the greatest concern for many, that the labor market could be in trouble going forward, especially with the adoption of AI. The lower interest rates that have resulted likely explain the U.S. dollar giving up its gains, turning slightly lower on the session as well. That said, the market is still not expecting another cut from the Fed at it's December meeting (now only a 39.6% chance of another quarter-point cut).

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