November canola futures is down $7.90/mt, December soybean oil is down .73 cents/pound, November European rapeseed is down 5.50 euro/mt and November Malaysian palm oil is up .15%. December oats are up 1/2 cents/bushel while November European corn is up 6.25 euros/mt. November crude oil is down $.64/barrel, November ULSD is now up $.0233/gallon, and the December Canadian dollar is down .00175 at .71355. The December US dollar index is up .209 at 100.365, and the December Brazilian real is down .00025 at 0.19515.

Soybeans recovered from overnight losses in morning trade with another push higher in soybean meal providing the underlying support. The move leaves the latter close to contract highs again while the morning high in November soybeans came within $.04/bushel of its contract high. The resulting spread trading has kept pressure on soybean oil and canola markets despite a recovery in energy prices.

Diesel and gasoline are already higher on the day with crude oil working towards that goal after President Trump threatened Iran again during his U.N. General Assembly speech. He suggested he could "annihilate" the country while defending his actions and calling on the world to help put economic pressure on Iran to end the war. For their part, the Iranian delegation walked out during his speech when Trump reiterated that he has "a big decision to make".

With the recovery in energy markets, stocks and bonds have both turned mixed to mostly lower while the U.S. dollar firms on the prospects of higher interest rates.

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