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Howard Leaman                                                     Jun 22/18


Canola has traded on both sides of unchanged in overnight action with the
bias to the downside. Palm oil and the soy complex are all higher this
morning, while European rapeseed is steady to slightly higher. The Canadian
dollar dipped below $.75 U.S. yesterday, but has bounced back to post a
quarter of a cent higher, near $.7528.

BULL SIDE                               BEAR SIDE
1) Canola could see spillover buying    1) North American crop conditions 
from soy today as that market shows     are generally favourable. In 
some bounce ahead of the weekend.       particular, the U.S. soy crop is  
2) Technical buying could develop in    off to a good start.    
canola today as the price charts are    2) The Canadian dollar is retracing
poised to turn bullish.                 some of its recent losses today.  
3) Dry conditions in parts of western   3) There continues to be talk that
Canada should keep some weather         canola is over priced relative to
premium in the market.                  other vegetable oils.

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