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Howard Leaman                                                     Dec 05/19


Canola has been mainly stronger in overnight action. Palm oil and the soy
complex are also higher this morning, while European rapeseed is mixed. The
Canadian dollar is up another tenth of a cent against the U.S. dollar after
gaining just over half of a cent on Wednesday. Trading in canola could be
choppy today as traders position themselves ahead of tomorrow's Stats Can
production report.  

BULL SIDE                               BEAR SIDE
1) Canola continues to hold above       1) The technical bias in canola is 
Monday's low as traders appear to be    to the downside and the market is 
reluctant to extend Monday's losses     struggling to show any bounce.     
ahead of Friday's Stats Can production  2) South American soy crop
report.                                 conditions are generally      
2) There is talk of progress in the     favourable. Record output is again
U.S./China trade talks.                 a possibility.
3) Though the South American soy crop   3) Tension between China on the one 
is generally enjoying favourable        side, and Canada and the U.S. on
conditions, there is some concern       the other continues to overhang the
about dry conditions in Argentina.      oilseed markets.

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