July canola is down $5.90/mt with November canola down $5.50/mt, July soybean oil is down .24 cents/pound, August European rapeseed is down 7.25 euro per mt and August Malaysian palm oil is down 1.67%. July oats are down 5 1/4 cent/bushel. July crude oil is down $3.28 per barrel, July ULSD is down $.1119 per gallon, and the June Canadian dollar is up .00045 at .71590. The June U.S. Dollar Index is down .119 at 99.730 and the July Brazilian real is up .00190 at 0.19630.

Most grain and oilseed markets have benefitted from a short-covering and/or bargain hunting bounce in early trade going into the weekend despite renewed weakness in energy markets. Crude oil had recovered most of its overnight losses in early trading when reports again surfaced suggesting a deal between the U.S. and Iran may be close, sending energy markets back towards their lows and taking soybean oil and canola with them. Like so many times over the past few months.

Outside markets have reacted to the reports with stocks higher and the U.S. dollar briefly testing the lows of the session. Oddly enough, treasury markets are slightly lower on the day now.

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