Howard Leaman Nov 08/19 MIXED TO HIGHER - SUBJECT TO USDA REPORT 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 higher this morning, soybeans are mixed while soy meal is lower. The Canadian dollar is down about fifteen one-hundreds of a cent against the U.S. dollar. Canadian labour numbers will be released this morning, which could affect the Canadian dollar and subsequently canola. The monthly USDA crop report will be released today which could set the market tone for the rest of the day if not for the next few days. Trading in canola could be choppy today 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 could show some bounce today 1) Yesterday's weak close in canola after yesterday's weak close and ahead has the short term technical bias of the long weekend. leaning to the downside. Any bounce 2) Canola is attractively priced is apt to be widely seen as a relative to other vegetable oils, selling opportunity. though commercial buyers have been 2) The North American harvest is reluctant to chase prices higher. progressing, slowly. 3) The Canadian dollar is trending 3) South American soy crop areas lower against the U.S. dollar. have received beneficial rain, and 4) Canola could see spillover buying the planting progress is now ahead from other vegetable oils today. of its normal pace.