Headline News

Howard Leaman                                                     Sep 20/17


Canola has been mixed in overnight action with trading confined to
relatively narrow trading ranges. Palm oil, European rapeseed and soy oil
are struggling this morning, while soybeans and meal are firmer. The
Canadian dollar is up about a fifth of a cent against the U.S. dollar.

BULL SIDE                               BEAR SIDE
1) Canola rallied yesterday despite     1) Stats Can penciled in a record  
several negative developments. Key      canola crop of 19.7 million tonnes
resistance on the price charts was      based on its model. That is up from
penetrated, turning the technical bias  the 18.2 million estimated        
to the upside.                          previously based on surveys. Talk
2) There are some concerns about wet    is circulating that the crop will
and cool weather in parts of western    top 20 million. 
Canada. Harvest delays are expected to  2) The Canadian dollar is 
be minimal, and frost damage minor,     continuing its bounce against the 
but the weather is psychologically      U.S. dollar.