March canola is up $9.00 per metric ton (mt), March soybean oil is up 1.39 cents/pound, May European rapeseed is up 6.00 euro per mt and February Malaysian palm oil is up .97%. March oats are down 8 cents/bushel. March crude oil is up $.04 per barrel, March ULSD is up $.0586 per gallon, and the March Canadian dollar is up .00105 at .72560. The March U.S. Dollar Index is up .011 at 98.450 and the February Brazilian real is up .00220 at 0.18745.

Oilseed markets have added to early gains, trading sharply higher as the rally in heating oil and natural gas marches on. Reports of positive meetings between U.S. and Chinese officials have helped soybeans. Soybean oil is sharply higher on gains in diesel prices while canola continues to see added support from the recent trade agreement between China and Canada with funds likely working at covering their significant short positions. Meanwhile, grains have pulled back despite the damaging cold expected later in the week.

In outside markets, the U.S. dollar and treasuries have turned slightly positive while stocks rally sharply on Trump's assertion that he has no intention of using military force to take over Greenland. A lack of any further escalation in rhetoric while speaking in Davos is likely helping as well. Despite that, gold remains sharply higher with gains of $84.30/ounce currently.

Energy markets remain firm, led still by heating oil (diesel) and natural gas thanks to the severe cold outbreak seen across the U.S.

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