Grains Report - Wednesday, Sept. 16

General Comments: Palm Oil was closed for a holiday. Production ideas are turning seasonally higher as trees enter a peak production period over the next few months. Most importers seem to have enough stocks on hand and the Coronavirus pandemic is keeping overall demand on the lighter side. Canola was lower along with the price action in Chicago. Farmers are harvesting and selling, but end user demand is reported to be very good.
Overnight News:
Chart Analysis: Trends in Canola are up with objectives of 524.00, 531.00, and 536.00 November. Support is at 515.00, 512.00, and 505.00 November, with resistance at 524.00, 527.00, and 530.00 November. Trends in Palm Oil are mixed to up with objectives of 2950 and 3140 November. Support is at 2870, 2820, and 2790 November, with resistance at 2940, 2970, and 3000 November.

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