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Howard Leaman                                                     Nov 17/17


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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