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Howard Leaman                                                     Oct 16/19

MIXED

Canola has been mixed in overnight action with the market holding close to
unchanged. Palm oil, soybeans and soy oil are mainly on the defensive this
morning, soy meal is narrowly mixed, while European rapeseed is mainly
firmer. The Canadian dollar is down about a tenth of a cent against the
U.S. dollar. 

BULL SIDE                               BEAR SIDE
1) Winter weather in western Canada     1) Canola looks like it has formed 
is disrupting the harvest with a large  a spike top on the price charts.
portion of the crop still in the        2) Trade tension with China,
field.                                  especially between Canada and
2) There is talk that tight South       China, continues to overhang 
American soy stocks are forcing China   canola.      
to buy from the U.S. which is lending   3) The weather in Brazilian soy 
spillover support to canola.            crop areas is turning more  
3) Canadian canola is competitive in    favourable as dry areas start to
the world market.                       receive some rain.

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