Printable Page Canadian Market News   Return to Menu - Page 2 3

Howard Leaman                                                     Feb 16/18

     Canola traded on both sides of unchanged again on Friday, ending
higher. Traders were somewhat reluctant to chase prices in either direction
ahead of the long weekend given the uncertainty surrounding crop conditions
in South America. The ICE Futures Canada market will be closed on Monday
for the Louis Riel holiday, while U.S. markets will be closed for
Presidents' Day holiday. 

     Weakness in soybeans, soy oil and palm oil weighed on canola
initially, but the market moved higher later in the day when the Canadian
dollar turned lower. After posting a small gain against the U.S. dollar
initially on Friday, the dollar fell below $.80 down almost half of a cent.

                                   Resistance     Support
               May Canola          510.70         503.00
               Jly Canola          515.50         508.00

DTN offers additional daily information available free through DTN Snapshot – sign up today.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN