July canola is up $8.90/mt with November canola up $4.90/mt, July soybean oil is down .34 cents/pound, August European rapeseed is up .75 euro/mt and August Malaysian palm oil is down .07%. December oats are down 5 3/4 cents/bushel while November European corn is up 4.25 euro/mt. August crude oil is up $1.20/barrel, August ULSD is up $.0879/gallon, and the September Canadian dollar is down .00085 at .70620. The September U.S. Dollar Index is down .222 at 100.905 and the July Brazilian real is down .00035 at 0.19290.

Grain and oilseed markets have extended overnight losses ahead of Tuesday's USDA reports (planted acreage and June 1 stocks) as well as month and quarter-end. Those external factors may have as much to do with the break in price as anything considering the extended rally in European ag markets and firming energy prices. European rapeseed has turned positive while their corn market remains near the new life-of-contract highs that were set overnight on a lack of meaningful relief in sight from their ongoing drought. Meanwhile, canola has extended its overnight rally as the market appears to be reacting positively to the heavy rains seen over the weekend, with more on tap for the Eastern Prairies on Monday.

Outside markets are mixed as stocks maintain their strong overnight gains on optimism over the halt in attacks between the U.S. and Iran while energy prices approach their highs on skepticism over that same halt being meaningful. Treasuries are mixed while the U.S. dollar continues to trade lower.

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