Howard Leaman Nov 17/17
MIXED TO HIGHER
Canola has traded on both sides of unchanged in overnight action, with the
bias turning to the upside. Palm oil and the soy complex are firmer this
morning, but European rapeseed is on the defensive. The Canadian dollar has
traded on both sides of unchanged against the U.S. dollar, holding close to
Thursday's closing level.
BULL SIDE BEAR SIDE
1) Though South American soy crop 1) South American soy crop areas
areas are generally enjoying are generally enjoying favourable
favourable weather, there are areas of conditions.
concern that should keep some weather 2) Canola is close to strong
premium in the market. resistance on the price chart, and
2) Canola could see spillover buying traders are apt to be reluctant to
from the soy complex today as both push prices through that level
markets show some bounce after recent ahead of the weekend.
selling. 3) Any bounce in canola is apt to
3) Commercial buying continues to lead to increased farmer selling.
provide underlying support to canola.
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