Howard Leaman Feb 20/19
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, soybeans and soy
meal are lower this morning, but soy oil is showing some bounce. The
Canadian dollar is up about a fifth of a cent against the U.S. dollar.
BULL SIDE BEAR SIDE
1) There is talk that canola is 1) The Canadian dollar is up about
oversold and due for a bounce. a fifth of a cent against the U.S.
2) The Australian canola crop is dollar this morning.
estimated at 2.18 million tonnes this 2) South American soy crop
year, down from 3.67 million produced conditions are improving.
last year. That announcement was not 3) Warmer weather in western Canada
surprising, but it is still is expected to lead to increased
supportive. canola deliveries.
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