May canola is up $23.40/mt, May soybean oil is up 1.84 cents/pound, May European rapeseed is up 3.50 euro per mt and April Malaysian palm oil is up .31%. May oats are down 10 1/2 cents/bushel. April crude oil is up $2.33 per barrel, April ULSD is up $.1545 per gallon, and the June Canadian dollar is down .00220 at .73200. The June U.S. Dollar Index is down .038 at 99.430 and the April Brazilian real is up .00095 at 0.19130.

Soybean oil is leading canola higher with strong gains holding for both markets going into midsession. The White House is setting up a meeting for March 27 where President Trump is expected to announce biofuel blending mandates and small refinery exemption reallocation details. Energy markets are still higher on the day but off their best levels, providing support but not materially so. Grain markets turned lower in early trade with soybeans hovering around unchanged despite the developments noted above.

One thing that may be supporting gains in energy markets is word from Trump that all NATO countries plus Japan, Australia and South Korea have given notice that "they don't want to get involved with our Military Operation against Iran." Even though ships are no match for drones or missiles, the lack of support may make the situation more volatile going forward.

Outside markets are little changed from overnight moves with treasuries and equities quietly higher while the U.S. dollar has drifted slightly below unchanged.

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