May canola is up $6.90/mt, May soybean oil is up .10 cents/pound, May European rapeseed is up 2.25 euro per mt and June Malaysian palm oil is up 1.55%. May oats are up 6 cents/bushel. May crude oil is up $1.69 per barrel, May ULSD is up $.0219 per gallon, and the June Canadian dollar is down .00150 at .71890. The June U.S. Dollar Index is down .383 at 99.970 and the April Brazilian real is up .00130 at 0.19170.

Month- and quarter-end positioning and profit-taking related volatility is certainly living up to its reputation. Energy markets are bouncing around unchanged on the latest headlines -- be it Trump's comments that the war against Iran won't last "much longer" and that other nations can worry about opening the Strait of Hormuz, or Iran's threat (just made) to target 19 U.S. companies operating in the region beginning April 1. At this moment, energies are higher on the latter threat and providing support for ag markets.

Grains and oilseeds have turned mixed ahead of the USDA reports with canola, wheat and oats being the exceptions -- all going into the reports with good gains.

In outside markets, Treasuries remain quietly higher on month-end positioning while leaving key reversals lower on the monthly charts intact. Equities on the other hand are celebrating the potential for an end to the war soon with a profit-taking rally inspired by President Trump's comments. Those comments are also weighing on the U.S. dollar.

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