Headline News

Howard Leaman                                                     Feb 16/18


Canola has traded on both sides of unchanged in overnight action with the
bias turning to the upside. Palm oil, European rapeseed and soy oil are
lower this morning, but soybeans and soy meal are firmer. The Canadian
dollar is up about six one-hundreds of a cent against the U.S. dollar.
Trading could be choppy today as traders position themselves ahead of the
long weekend. The ICE Futures Canada market will be closed on Monday for
the Louis Riel holiday while the U.S. markets will be closed for
Presidents' Day.

BULL SIDE                               BEAR SIDE
1) There continues to be enough areas   1) Despite areas of concern, South 
of concern in South American soy crop   American soy supply is expected to
areas to keep some weather premium in   be ample this year. 
the markets.                            2) The Canadian dollar is trending  
2) The technical bias in canola is to   higher against the U.S. dollar.  
the upside, and any weakness is apt to  3) Canola could see spillover  
be widely seen as a buying              selling from other vegetable oils 
opportunity.                            today.