Howard Leaman Dec 09/19
MIXED TO HIGHER
Canola has traded on both sides of unchanged in overnight action, with the
bias to the upside. Palm oil and the soy complex are stronger this morning,
while European rapeseed is mixed. The Canadian dollar is down about five
one-hundreds of a cent against the U.S. dollar.
BULL SIDE BEAR SIDE
1) Last Friday, Stats Can pegged the 1) Last Friday's rally in canola in
Canadian canola crop at 18.649 million response to bullish news failed to
tonnes, versus 20.343 million produced break the market's downtrend.
in 2018. 2) South American soy crop
2) The Canadian dollar is holding last conditions are generally
Friday's sharp loss against the U.S. favourable. Record output is again
dollar. a possibility.
3) Though the South American soy crop 3) Tension between China on the one
is generally enjoying favourable side, and Canada and the U.S. on
conditions, there is some concern the other continues to overhang the
about dry conditions in Argentina. oilseed markets.
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