The United States and European Union have penned a framework agreement on transatlantic trade in which they agree US commodities including cattle, soy and wood pose zero deforestation risk. The US has been assigned a "low risk" status along with EU states. A new "neglibible status" is being discussed in Europe. If this status come in to being than the US would seek this status. A product is considered "neglible risk" when due diligence processes find there is no cause for deforestation concern.

Futures were little changed in New York after rising 8.3 percent the previous seven sessions. U.S. drillers targeting crude reduced the number of active rigs for the first time in 24 weeks, according to Baker Hughes Inc. data on Friday. Libya’s oil production climbed to more than 1 million barrels a day for the first time in four years, according to a person with direct knowledge of the situation. While prices surged last week, oil in New York and London still posted a monthly loss in June after tumbling into a bear market on concerns that rising global supply will counter cuts from the Organization of Petroleum Exporting Countries and its partners. There are signs of a slowdown in the U.S., but Libya is adding more oil to the market as it restarts fields that are exempt from OPEC’s production curbs. Click Read More below for more of the story.

American Dollar to Canadian Dollar = 0.750145; American Dollar to Chinese Yuan = 0.143659; American Dollar to Euro = 1.183949; American Dollar to Japanese Yen = 0.009468; American Dollar to Mexican Peso = 0.044644.