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Howard Leaman                                                     Jun 25/19

MIXED TO HIGHER

Canola has been mainly firmer in overnight action. Palm oil and soy oil are
lower this morning, but European rapeseed, soybeans and meal are firmer.
The Canadian dollar is virtually unchanged against the U.S. dollar. In
addition to the uncertainty surrounding the weather in key North American
crop areas, traders will also be looking ahead to Wednesday's Stats Can
acreage report and Friday's USDA acreage and stocks reports. 

BULL SIDE                               BEAR SIDE
1) Though forecasts for North American  1) Dry areas in western Canada have
crop areas are improving, there are     received beneficial rainfall, and 
still enough areas of concern to keep   forecasts call for more. 
some weather premium in the markets.    2) China's boycott of Canadian 
2) The weekly USDA crop progress and    canola continues to overhang the  
condition report was supportive for     market. 
soy.                                    3) Though the Canadian dollar is 
3) There is some optimism that some     "only" steady against the U.S. 
progress may be made on the Chinese/    dollar this morning, it has rallied
U.S. and Canadian trade front.          sharply over the past week.

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