Howard Leaman May 25/18 LOWER Canola has traded on both sides of unchanged in overnight action with the bias turning to the downside. Palm oil and soy oil are lower this morning, European rapeseed is mixed, while soybeans and soy meal are firmer. The Canadian dollar is down about fifteen one hundreds of a cent against the U.S. dollar. Trading maybe choppy today ahead of the U.S. long weekend. The U.S. markets will be closed on Monday for the Memorial Day holiday, but the ICE Futures Canada market will have normal trading hours. BULL SIDE BEAR SIDE 1) The Canadian dollar is continuing 1) Western Canadian crop areas have to pull back against the U.S. dollar received some rain where needed and after its recent rally. other areas that were too wet are 2) Yesterday's action in canola shifts drying out. There are still areas the technical bias to the upside. of concern, but the crop concerns 3) There continues to be areas of have eased somewhat. concern in western Canada with western 2) The U.S. soy crop is off to a areas on the wet side, but eastern good start, and soy continues to areas still needing more rain. provide strong competition for 4) The trucker strike in Brazil has canola. led to talk that the U.S. will pickup 3) Canola looks vulnerable to soy market share. profit taking.