Howard Leaman Nov 14/19 HIGHER Canola has traded on both sides of unchanged in overnight action with the bias turning to the upside. Palm oil, European rapeseed and soy meal are on the defensive this morning, but soybeans are mixed and soy oil is higher. The Canadian dollar is down about a tenth of a cent. Canola remains locked in a consolidation pattern, as traders wait for new developments to give the market direction. BULL SIDE BEAR SIDE 1) The Canadian dollar is continuing 1) Crop conditions in South its downtrend against the U.S. dollar, American soy growing areas are down another tenth of a cent this turning favourable. morning. 2) Trade tension between China on 2) Canadian canola usage is ahead of the one side, and Canada and U.S. last year's pace as it is attractively on the other continues to overhang priced relative to other oils. the oilseed markets. 3) Canola is holding in a 3) The North American harvest is consolidation pattern on the price nearing completion, removing charts, and traders appear to be reports of harvest delays as a reluctant to sell aggressively. supportive factor.