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

Howard Leaman                                                     Oct 23/17

     Canola traded on both sides of unchanged again on Monday, ending
unchanged to higher. The market was supported by weakness in the Canadian
dollar, and spillover buying from soy oil, European rapeseed and palm oil.
The Canadian dollar lost another tenth of a cent against the U.S. dollar on
Monday, after dropping about eight tenths of a cent last Friday. Forecasts
calling for rain in some areas of western Canada also raised concerns about
further delays to the canola harvest. Technical buying extended the gains
in canola.

     The buying in canola was curbed by profit taking, expectations that
the weekly U.S. crop progress report will show good harvest progress last
week, and by forecasts calling for generally favourable weather in key
South American crop areas. 

                                   Resistance     Support
               Jan Canola          513.40         503.50
               Mch Canola          519.00         508.70

For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN