Howard Leaman Oct 16/19
Canola has been mixed in overnight action with the market holding close to
unchanged. Palm oil, soybeans and soy oil are mainly on the defensive this
morning, soy meal is narrowly mixed, while European rapeseed is mainly
firmer. The Canadian dollar is down about a tenth of a cent against the
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) Canadian canola is competitive in favourable as dry areas start to
the world market. receive some rain.
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