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

Howard Leaman                                                     Jun 20/18

     Canola traded on both sides of unchanged on Wednesday, ending higher.
The market was supported by continued weakness in the Canadian dollar,
spillover buying from palm and soy oils and European rapeseed, reduced
farmer selling and technical buying as prices bounce off Tuesday's lows in
response to talk that the recent selling was overdone. The Canadian dollar
lost another tenth of a cent against the U.S. dollar on Wednesday as it
trades at a one year low. 
     The buying in canola was curbed by reports of generally favourable
North American crop conditions, on going concerns about world trade
tension, and weakness in soy meal and to a lesser extent soybeans.

                                   Resistance     Support
               Nov Canola          513.60         500.00
               Jan Canola          520.00         507.30

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