5 things to start your day

[Bloomberg]( It’s a busy day for commodities, Brexit delayed and China to increase U.S. agriculture purchases under trade deal. Oil holds Crude held near the closest level this year after OPEC and its partners committed to continue production cuts until [at least June](. A barrel of West Texas Intermediate for April delivery was trading at $59.30 at 5:50 a.m. Eastern Time. There’s a lot going on in the metals market today, with Norsk Hydro ASA, one of the world’s biggest aluminum producers, suffering production outages after a [cyber attack]( affected operations across the U.S. and Europe. Vale SA is facing continued backlash from Brazilian authorities after January’s deadly accident with the government ordering the [closure of one mine]( and the freezing of 1 billion reais ($264 million) of funds. Palladium hit a record high of $1,600 an ounce as [shortage concerns]( mount. Brexit delayed Britain has been plunged into “[crisis](,” declared Brexit Secretary Steve Barclay. That was after controversial House of Commons speaker and Theresa May’s Brexit nemesis John Bercow demanded [substantial changes]( to her deal before considering it for a new vote. The government is now set to seek a [long extension]( to the U.K.’s EU membership at Thursday’s leaders summit in Brussels. The pound is mostly taking all of this in its stride, with one analyst suggesting it could [strengthen to $1.45]( once a deal is made. Sponsored Content by Sprott Sprott CEO sees 'billionaires and family offices' buying gold. [Watch Video](.  Farmer’s market Things are relatively quiet on the trade front, but there are signs of progress. U.S. Agriculture Secretary Sonny Perdue described negotiations as “[dynamic](,” saying China could triple its [2017 purchases]( of U.S. farm goods in the next five years. Perdue also confirmed that there would have to be an [agriculture deal]( as part of any trade deal with the EU. Markets mixed Overnight, the MSCI Asia Pacific Index climbed 0.1 percent while Japan’s Topix index closed 0.2 percent lower as retailers dragged the gauge lower in a quiet session. In Europe, the Stoxx 600 Index was 0.5 percent higher at 5:50 a.m. as miners and energy producers rose. S&P 500 futures pointed to a [gain at the open]( and the 10-year Treasury yield was at 2.596 percent as investors awaited tomorrow’s Federal Reserve decision. Gold also rose. Coming up… U.S. January factory orders are expected to show a 0.3 percent increase when the data is released at 10 a.m. At the same, the final reading of that month’s durable goods orders is published. The Fed meeting begins in Washington, with [tomorrow’s decision]( coming with an updated summary of economic projections. Also in Washington today, Brazilian President Jair Bolsonaro [will meet]( with President Donald Trump at the White House. FedEx reports earnings later. What we've been reading This is what's caught our eye over the last 24 hours. - Odd Lots: This is how the [online brokerage business]( changed in the last 20 years. - SEC stunned that [Musk failed to get pre-approval]( of tweets. - Facebook to [face up to extremism]( after New Zealand attack. - New York, Los Angeles return to top 10 world’s [most expensive cities]( list. - Regional land prices in Japan rise for the [first time since 1992](. - Credit Suisse raises its [S&P 500 target]( for the year. - U.S. detects [huge meteor explosion](. Want the lowdown on European markets? Get the [European edition of Five Things]( in your inbox before the open, every day. And finally, here’s what Joe's interested in this morning The latest Bank of America Merrill Lynch fund manager survey is out, and the top tail risk that investors identify is a slowdown in China. It's debatable whether that can even be considered a true tail risk, since people have been talking about it for months, but nonetheless the survey shows it's still at the forefront of many people's minds. Interestingly, this comes as some observers are getting more optimistic about the country's near-term prospects. [Yesterday on TV we talked with Jan Stuart](, global energy economist at Cornerstone Macro, who said he sees evidence that things are picking back up in China, thanks to, by his count, 67 discreet stimulus measures since last May. Meanwhile last week, Morgan Stanley's China economists said they saw "green shoots," such as real retail sales growing at a 7.1 percent clip year to date versus 6.7 percent at the end of last year. They also note that transportation fixed asset investment grew 7.5 percent in the January-February period, up from 5.6 percent in the fourth quarter of last year, helped by increased spending on rail. None of this necessarily removes fears about China's longer term issues, but to the extent that investors perceive China to be a major risk, there are at least some signs of problems dissipating. Like Bloomberg's Five Things? [Subscribe for unlimited access]( to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. [Learn more](. 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