Elevator Address

2518 Lockhead Rd
North Gower, ON K0A 2T0
1-855-SOY-CORN(769-2676)
Office: 613-489-0956
Fax: 613-489-0957
info@northgowergrains.com

Mailing Address

6830 4th Line Rd
North Gower, ON K0A 2T0
1-855-SOY-CORN(769-2676)
Office: 613-489-0956
Fax: 613-489-0957
info@northgowergrains.com


 
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Howard Leaman                                                     Aug 19/19

MIXED TO LOWER

Canola has traded on both sides of unchanged in overnight action with the
bias turning to the downside. Palm oil, European rapeseed and the soy
complex are all lower this morning. The Canadian dollar is up about five
one-hundreds of a cent against the U.S. dollar.    

BULL SIDE                               BEAR SIDE
1) Canola is competitively priced in    1) Trade tension between China on  
the oilseed market.                     the one hand, and Canada and the
2) There are still enough areas of      U.S. on the other, continues to
concern to keep some weather premium    weigh on the oilseed markets. 
in the markets. Forecasts calling for   2) North American crop conditions 
below normal temperatures in some crop  are generally favourable. Though  
areas has led to talk of potential      there is some talk of the risk of 
frost damage due to the late            frost damage to late developing
development of the crop.                canola, it is mainly just talk.
3) Canola is locked in a consolidation  3) The Canadian dollar is bouncing
pattern on the price charts and         higher against the U.S. dollar. 
traders appear reluctant to sell too    4) Canola could see spillover 
aggressively.                           selling from other markets today.

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