November canola is up $1.70/mt, December soybean oil is up .01 cents/pound, November European rapeseed is up 3.75 euro/mt and October Malaysian palm oil is down 0.32%. December oats are down 3 1/2 cents/bushel while November European corn is down 1.75 euros/mt. September crude oil is up $1.67/barrel, September ULSD is up $0.0451/gallon, and the September Canadian dollar is down 0.00150 at 0.71365. The September U.S. Dollar Index is up 0.304 at 99.850 and the September Brazilian real is up 0.00095 at 0.19480.

In somewhat of an odd reaction, energy markets are gaining strength as the morning progresses thanks to an escalation in attacks between the Ukraine and Russia while wheat sees overnight weakness intensify. Row crop markets are mixed on the improved forecasts for the Eastern Corn Belt with likely losses in the west helping prices. Meanwhile, canola and European rapeseed benefit from the additional Russian attacks on Ukraine shipping in the Black Sea as well as gains in diesel prices.

The Iranian situation has been eerily quiet but strength in energy markets suggest all is not well.

With crude oil extending gains, stocks and bonds have both turned lower while the U.S. dollar has added to overnight gains.

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