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Howard Leaman                                                     Feb 24/20

LOWER

Canola has been on the defensive since the start of last night's session.
Palm oil, European rapeseed, and the soy complex are all down sharply this
morning. The Canadian dollar is down about four one-hundreds of a cent
against the U.S. dollar. Concern about the coronavirsus has weighed heavily
on many world markets this morning.   

BULL SIDE                               BEAR SIDE
1) Though South American soy crop       1) South American crop conditions
areas are generally enjoying            are generally favourable. Record 
favourable weather, there are areas of  large production is expected.     
concern.                                2) The Wet'suwet'en protest is 
2) There is some optimism that China    disrupting canola movement to the
will increase its purchases of U.S.     west coast which could hurt export
soy as trade tension between the two    sales. 
countries ease. That could lead to      3) Concerns that the coronavirsus  
spillover buying for canola.            will hurt the world economy 
                                        continue to weigh on many markets.

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