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Howard Leaman                                                     Oct 20/17


Canola has traded on both sides of unchanged in overnight action with the
bias turning to the upside. Palm oil is steady this morning, European
rapeseed is mixed to lower, and the soy complex is firmer. The Canadian
dollar has fallen below $.80 U.S., down about fifteen one-hundreds of a
cent. Stats Can will release its monthly inflation report this morning
which could influence the Canadian dollar and subsequently canola.

BULL SIDE                               BEAR SIDE
1) Canola posted a bullish outside up   1) Harvesting conditions in western
day yesterday which shifts the          Canada and the U.S. are improving.
technical bias to the upside. Any       2) Despite yesterday's strong close
buying could build on itself.           canola continues to struggle to    
2) There are enough areas of concern    push through key resistance on the
in key South American soy crop areas    price charts. Traders maybe    
to keep some weather premium in the     reluctant to buy aggressively ahead
markets.                                of the weekend.

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