Howard Leaman Nov 16/18
Canola has been on the defensive from the start of overnight action. Palm
oil, European rapeseed, soybeans and soy oil are all lower this morning,
but soy meal is showing some independent strength. The Canadian dollar is
up about five one-hundreds of a cent against the U.S. dollar as it
BULL SIDE BEAR SIDE
1) There is some optimism on the 1) South American crop weather is
U.S./China trade front, which is generally favourable. The stage is
providing spillover support to canola. set for large production.
2) There continues to be some 2) The technical bias in canola is
uncertainty surrounding the size and clearly to the downside, and any
the quality of this year's Canadian bounce is apt to be widely seen as
canola crop. a selling opportunity.
3) Technically, canola appears to be 3) The Canadian dollar is
trying to hold support on the price threatening to rally above $.76.
charts and some traders are looking 4) Canola could see spillover
for a bounce. selling from other markets today.
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