November canola futures are down $8.20/mt, December soybean oil futures are down .47 cents/pound, November European rapeseed is up 1.00 euro/mt and November Malaysian palm oil is down .66%. December oats are down 3 1/4 cents/bushel while November European corn is up 2.00 euros/mt. October crude oil is up $.31/barrel, October ULSD is up $.0047/gallon, and the December Canadian dollar is down .00100 at .71680. The December U.S. dollar index is up .115 at 100.100, and the December Brazilian real is down .00065 at 0.19310.

Grain and oilseed markets have seen increased selling pressure in early trading for no apparent reason. A sharp selloff in soybean meal after gaining 21% in value in the past five weeks is weighing on soybeans. But widespread selling across the complex has interfered with soybean oil gaining on spread trading with meal. Risk reduction ahead of next week's visit by Xi Jinping would make the most sense.

In the meantime, energy markets turned higher on the news that Saudi Arabia informed European refineries that they will receive no shipments in October due to the damage done to the East-West pipeline. Prices had retreated over the past few days on reports suggesting that Saudi Arabia had hoped to bypass a destroyed pumping station and have flow partially restored. Adding to anxiety, Pakistan has announced a long list of severe austerity measures due to a lack of fuel, beginning Friday.

The recovery in energy prices has been enough to turn treasury markets back down, resulting in a U.S. 10-year note rate back over 5%, a mixed stock market and a firm U.S. dollar.

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