Howard Leaman Dec 15/17 HIGHER Canola has traded on both sides of unchanged in overnight action, with the bias turning to the upside. Palm oil, European rapeseed and the soy complex are all stronger this morning. The Canadian dollar is up about three tenths of a cent against the U.S. dollar. Canola looks due for a technical bounce today, but it may not go far given the recent strength in the Canadian dollar and expectations of a build up in Canadian canola stocks. BULL SIDE BEAR SIDE 1) There continues to be some concern 1) Though there are areas of around dry conditions in key Argentine concern, South American crop soy growing areas. There are forecasts conditions are generally calling for rain, but not enough to favourable. completely ease the weather concerns. 2) The Canadian dollar has soared 2) Technically, the selling in canola above $.78 U.S. this week, and is leaves the market looking oversold, threatening to go higher. and due for a bounce. 3) The technical bias in canola is 3) Canola could see spillover buying to the downside. Any bounce is from other vegetable oil markets. apparently widely seen as a selling opportunity.