Headline News

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.