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Howard Leaman                                                     Nov 22/19

MIXED TO LOWER

Canola has been mainly on the defensive in overnight action. Palm and soy
oils are stronger this morning, but European rapeseed, soybeans and soy
meal are lower. The Canadian dollar is steady against the U.S. dollar. 

BULL SIDE                               BEAR SIDE
1) Canola could see spillover buying    1) Crop conditions in South 
from palm and soy oils today.           American soy growing areas are    
2) Canola remains attractively priced   generally favourable.        
relative to other vegetable oils.       2) CN Rail is on strike, which 
3) Canola could see some bounce off     could curtail canola shipments to 
potential support levels on the price   export positions. 
charts.                                 3) Trade tension with China 
                                        continues to overhang canola.

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