There hasn't been much activity to report lately. The oil markets have been hovering, as I would call it. Bouncing up with any information the China may be making a big purchase and falling down when the rumor doesn't come to fruition. The latest news is that corn is doing great and has started coming down quickly off its highs earlier this year. Soy has been pretty flat with some downward activity today.
No real good or bad news on Canola. It is trending with soybean and we have seen a nominal increase in canola oil basis but that's about it. The crop looks good so far.
Coconut oil has been following its peers and has remained steady over the last couple weeks.
With crude and gasoline coming off their highs this year it has eased the pressure on ag futures.
Looking forward there is feeling that the ag market is still inflated but no one is willing to go out on a limb a predict when the market will finally correct itself. I expect the markets to take a step down and find another hovering point in the next few weeks.