March canola is up $.30 per metric ton (mt), March soybean oil is up .50 cents/pound, May European rapeseed is up .75 euro per mt and April Malaysian palm oil is down .31%. March oats are up 1 1/4 cents/bushel. March crude oil is up $1.26 per barrel, March ULSD is up $.0267 per gallon, and the March Canadian dollar is up .00620 at .73685. The March U.S. Dollar Index is down 0.862 at 95.995, and the February Brazilian real is up 0.00235 at 0.19165.

A strong recovery in energy markets, combined with an accelerated selloff in the U.S. dollar, has provided a supportive backdrop, with the soybean complex responding favorably. Soybean oil has remained the leader while soybeans trade near their highs as midday approaches. Meanwhile, canola has drifted off the good gains seen earlier as the Canadian dollar has surged on the break in its U.S. counterpart and recent gains in metal and energy markets.

Corn and wheat are flat despite the spillover support and optimism that President Trump will say something positive about the future for biofuels in his afternoon speech in Clive, Iowa.

Energy markets have rallied on concerns over potential military strikes in Iran and the impact of the extreme cold weather in the U.S. Not only has it significantly increased demand for heating oil and natural gas, but it is estimated to have resulted in as much as 2 million barrels per day of lost production.

In outside markets, treasuries are mixed now with longer-dated maturities lower ahead of Wednesday's interest rate decision and press conference to follow. Equities are mixed, with most testing record highs, while the Dow is dragged down by the healthcare sector.

As mentioned, the U.S. dollar selling pressure has intensified with the September low close to being tested. Should it settle at these levels, it will be the lowest close since 2022. With no sign of a reversal at this point.

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