Howard Leaman Aug 21/19
MIXED TO HIGHER
Canola has been mainly stronger in overnight action, but the gains have
been relatively small. Palm oil and the soy complex are higher this
morning, while European rapeseed is steady to higher. The Canadian dollar
is up about a tenth of a cent against the U.S. dollar. Canola remains in a
consolidation pattern as traders wait for new developments to give the
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. The late development 2) North American crop conditions
of this year's crops has raised are generally favourable. Though
concerns about the potential for frost there is some talk of the risk of
damage. frost damage to late developing
3) Canola could see spillover buying canola, it is mainly just talk.
from soy and palm oil today. 3) The Canadian dollar has bounced
off the $.75 U.S. level.
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