November canola is down $14.90/mt, December soybean oil is down 1.28 cents/pound, November European rapeseed is down 6.50 euro/mt and October Malaysian palm oil is down .65%. December oats are down 3 1/2 cents/bushel while November European corn is down 2.50 euros/mt. September crude oil is up $1.11/barrel, September ULSD is up $.0156/gallon, and the September Canadian dollar is up .00070 at .71905. The September U.S. Dollar Index is up .027 at 99.730 and the September Brazilian real is down .00205 at 0.19255.

Grain and oilseed markets have been under increased selling pressure as the morning has progressed with little fresh news to blame it on. The improved forecast for the Corn Belt is the most likely culprit now that support has been lost as strong gains in energy markets overnight faded. Risk reduction ahead of Wednesday's WASDE update could be responsible as well.

Energy prices remain mixed now that the regular headline algorithm bait (to trigger selling) has emerged that Pakistan is optimistic regarding peace regarding the Iran war, which worked again, resulting in strong overnight gains being lost. Despite serious attacks from all sides in both wars occurring regularly.

Interestingly enough, treasury prices bounced with the pullback in energies (as one would expect) but stocks have turned lower. Meanwhile, the U.S. dollar remains quietly higher.

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