Headline News


Howard Leaman                                                     Aug 21/18

LOWER

Canola has traded below Monday's closing levels from the start of last
night's session. Palm oil, European rapeseed, soybeans and soy meal are
also lower this morning, but soy oil is holding steady. The Canadian dollar
is up about a tenth of a cent against the U.S. dollar.  

BULL SIDE                               BEAR SIDE
1) Traders remain concerned that less   1) Forecasts are calling for ideal
than favourable weather in parts of     weather for U.S. soy in the crop's 
western Canada has curtailed canola     final development stage. The stage
production.                             is set for large production.      
2) There continues to be some           2) There continues to be talk that
optimism that Chinese/U.S. trade        canola is expensive relative to
tension could ease this week if trade   soy. 
talks go well.                          3) Key resistance on the canola
3) The technical bias in canola is      price charts is keeping a lid on   
turning to the upside, and the buying   the market. 
could build on itself.                  4) The Canadian dollar is trending
                                        higher against the U.S. dollar.