Printable Page Canadian Market News   Return to Menu - Page 2 3
 
 

Howard Leaman                                                     Aug 22/17

MIXED TO HIGHER

Canola has traded on both sides of unchanged in overnight action, with
prices holding close to unchanged. Palm oil, European rapeseed and the soy
complex are all firmer this morning. The Canadian dollar is down about a 
fifth of a cent against the U.S. dollar this morning, which erases 
yesterday's gains. Trading could be choppy today as traders wait for 
on-going U.S. crop tours to give some feedback on the outlook for the U.S.
soy crop.

BULL SIDE                               BEAR SIDE
1) The Canadian dollar is on the  1) Yesterday's weak action has  
defensive against the U.S. dollar thisshifted canola's short term 
morning.                                technical bias to the downside. 
2) Canola could see spillover buying    2) Canola has become expensive  
from other vegetable oil markets        relative to other vegetable oils. 
today.                                  3) Crop concerns are easing as the
3) Tight Canadian canola supply         weather in key North American crop  
continues to provide solid underlying   areas improves and the crops move 
support to canola.                      closer to being made.

For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN