Headline News

Howard Leaman                                                     Feb 21/20


Canola has traded on both sides of unchanged in overnight action with the
bias turning to the downside. Other markets are little changed this
morning; palm oil is unchanged, European rapeseed, soybeans and soy meal
are lower, and soy oil is slightly higher. The Canadian dollar is virtually
unchanged against the U.S. dollar. 

BULL SIDE                               BEAR SIDE
1) Though South American soy crop       1) South American crop conditions
areas are generally enjoying            are generally favourable. Record 
favourable weather, there are areas of  large production is expected.     
concern.                                2) The Wet'suwet'en protest is 
2) There is some optimism that China    disrupting canola movement to the
will increase its purchases of U.S.     west coast which could hurt export
soy as trade tension between the two    sales. 
countries ease. That could lead to      3) Concerns that the coronavirsus  
spillover buying for canola.            will hurt the world economy 
                                        continue to weigh on many markets.