Howard Leaman Nov 09/18 LOWER Canola has traded on both sides of unchanged in overnight action, with the bias turning to the downside. Palm oil, soybeans and soy oil are lower this morning, but European rapeseed and soy meal are firmer. The Canadian dollar is down about a fifth of a cent against the U.S. dollar. Trading in canola could be choppy ahead of the long weekend. The ICE Futures Canada market will be closed on Monday for the Remembrance Day holiday. BULL SIDE BEAR SIDE 1) Canola prices continue to find some 1) South American crop weather is support on the price charts and generally favourable, and many traders appear to be reluctant to push traders are looking for record prices significantly lower for now. large soy production this year. 2) There continues to be some 2) The technical bias in canola is uncertainty surrounding the size and clearly to the downside, and any the quality of this year's Canadian bounce is apt to be widely seen as canola crop. Analysts are lowering a selling opportunity. their estimates of output. 3) Ample supply of palm and soy 3) The Canadian dollar has dropped oils are providing strong below $.76 U.S. this morning. competition for canola.