Howard Leaman Jun 22/18
MIXED TO LOWER
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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