November canola is up $4.50/mt, December soybean oil is up 1.11 cents/pound, November European rapeseed is up 2.00 euro/mt and October Malaysian palm oil is down 0.59%. December oats are up 2 3/4 cents/bushel while November European corn is up 0.75 euros/mt. September crude oil is up $0.27/barrel, September ULSD is up $0.0746/gallon, and the September Canadian dollar is up 0.00020 at 0.72175. The September U.S. Dollar Index is down 0.109 at 99.450 and the September Brazilian real is up 0.00150 at 0.19200.

Grain and oilseed markets are sharply higher going into midday as reports of another Russian cruise missile hitting the Odessa port region of Ukraine combine with indications of disappointing yields coming from day 1 of the Corn Belt crop tour. The growing concern over Black Sea shipments helped canola and European rapeseed recover from earlier losses as well with diesel making new contract highs not hurting the cause.

Energy markets are higher with it appearing more likely all the time as an escalation with Iran is inevitable.

Outside markets are mixed with stocks and bonds both coming under pressure as inflation and higher interest rates globally begin to ramp up anxiety. Meanwhile, the U.S. dollar remains under pressure, albeit off overnight lows.

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