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Howard Leaman                                                     Mch 20/19

MIXED

Canola has traded on both sides of unchanged in overnight action, with
prices holding close to unchanged. Palm oil and soy oil are stronger, but
soybeans and meal are lower. The Canadian dollar has dipped below $.75 U.S.
again, down about a tenth of a cent. 

BULL SIDE                               BEAR SIDE
1) Despite yesterday's weakness,        1) Wet weather in the U.S. could   
canola's short term technical bias      delay field work and shift acreage
remains to the upside. Traders appear   intended for corn into soy.
to be using weakness as a buying        2) The more recent independent     
opportunity.                            strength in canola has curtailed
2) Commercial buying of canola has      its price advantage. 
improved in response to canola's        3) Ample supply of palm and soy 
improved competitiveness with other     oils is keeping a lid on canola.
vegetable oils.                         4) The recent bounce in canola    
3) Speculative traders appear to be     stalled yesterday, and it appears 
taking profits on recent sales of       that prices will consolidate near
canola.                                 current levels at best.

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