Howard Leaman Jan 19/18
Canola has been mainly on the defensive in overnight action. Palm oil is
also weaker, but European rapeseed is steady and the soy complex is firmer.
The Canadian dollar gained about a tenth of a cent against the U.S. dollar
early this morning, but has held steady since then.
BULL SIDE BEAR SIDE
1) There are still enough areas of 1) South American soy crop
concern in South American soy growing conditions are generally favourable
areas to keep some weather premium in and concerns about hot and dry
the market. conditions in some Argentine
2) Traders are becoming concerned crop areas are fading.
about dry conditions in western 2) Canola is becoming expensive
Canada. There is still lots of time relative to soy.
to change that situation before the 3) The technical bias in canola is
spring, but traders are nervous. to the downside.
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