Howard Leaman Mch 21/18
MIXED TO LOWER
Canola has traded on both sides of unchanged in overnight action, with the
bias turning to the downside. Palm oil is on the defensive this morning,
European rapeseed is steady to slightly higher, soy oil is narrowly mixed
and soybeans and soy meal are firmer. The Canadian dollar is up about a
tenth of a cent against the U.S. dollar. An announcement on U.S. interest
rates is expected today which could influence the Canadian dollar and
BULL SIDE BEAR SIDE
1) Canola showed some bounce yesterday 1) Concerns about dry conditions
suggesting that it will at least hold in key Argentine soy crop areas
in a consolidation pattern over the are fading as talk circulates that
short term. any crop losses have already been
2) The Canadian dollar is holding onto priced into the market.
most of its recent losses against the 2) Traders continue to look for a
U.S. dollar. large increase in Canadian canola
3) Long range forecasts are calling acreage this spring.
for a wet spring in western Canada 3) Traders are also looking for
that could disrupt planting. increased U.S. soy acreage in 2018.
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