Headline News

Howard Leaman                                                     Jul 18/18


Canola has been mainly stronger in overnight action. Palm oil, European
rapeseed and the soy complex are all higher this morning. The Canadian
dollar is down about three tenths of a cent against the U.S. dollar. 

BULL SIDE                               BEAR SIDE
1) Traders are watching high            1) North American crop conditions 
temperatures in western Canada. The     are generally favourable, despite  
concerns are eased somewhat by          some areas of concern.             
forecasts calling for rain in some      2) The technical bias in canola is 
areas, but the rain may miss the        to the downside, and any bounce is 
driest areas.                           apt to be widely seen as a selling
2) The Canadian dollar is on the        opportunity.
defensive against the U.S. dollar.      3) U.S./Chinese trade tension 
3) Canola could see spillover buying    continues to overhang prices.
from other markets today.