Howard Leaman Oct 15/19
Canola opened last night's session on a firm note, but fell from there to
trade in negative territory. Palm oil and soybeans are stronger this
morning, but European rapeseed and soy meal are mixed, while soy oil is on
the defensive. The Canadian dollar rallied sharply against the U.S. dollar
last Friday, retraced some of the gains on Monday, and is up slightly this
BULL SIDE BEAR SIDE
1) Winter weather in western Canada 1) Canola looks like it has formed
is disrupting the harvest with a large a spike top on the price charts.
portion of the crop still in the 2) Trade tension with China,
field. especially between Canada and
2) There is talk that tight South China, continues to overhang
American soy stocks are forcing China canola.
to buy from the U.S. which is lending 3) The weather in Brazilian soy
spillover support to canola. crop areas is turning more
3) Canola could see catch-up buying favourable as dry areas start to
today. It was closed yesterday, but receive some rain.
soy was opened and traded higher.
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