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Howard Leaman                                                     Oct 17/18

HIGHER

Canola has traded on both sides of unchanged in overnight action, with the
bias turning to the upside. Palm oil, European rapeseed and soy oil are
stronger this morning, while soybeans and soy meal are little changed. The
Canadian dollar is down about a tenth of a cent against the U.S. dollar. 

BULL SIDE                               BEAR SIDE
1) Canola could see spillover buying    1) The harvest in western Canada is
from other vegetable oils today.        resuming, and farmers are quick to 
2) Though harvesting conditions are     deliver canola rather than store it
improving, there is still concern       on their farm. 
about how much damage to the Canadian   2) South American crop weather is
canola crop was done by the wet and     generally favourable, and many     
cold weather this fall.                 traders are looking for large soy
3) Canola appears to have found some    production this year.
support on the price charts, and is     3) Canola is expensive relative to
showing some bounce today.              soy.

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