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Howard Leaman                                                     Jan 20/20

     Canola traded on both sides of unchanged again on Monday, ending
mixed. The two nearby contracts were settled unchanged to up $0.10/tonne,
but other positions ended in negative territory. The market was supported
by spillover buying from palm oil and European rapeseed. In addition, there
was talk that the soy complex would follow through on last Friday's
strength when it resumed trading after today's Martin Luther King Jr. Day
holiday in the U.S.
     The buying in canola was curbed by a firmer tone in the Canadian
dollar, and a reluctancy to push prices too high with the U.S. markets
closed. Canola prices have gained on soy oil prices recently, though canola
does remain attractively priced. Canola prices are approaching potential
resistance on the price charts. The Canadian dollar gained about a tenth of
a cent against the U.S. dollar on Monday.

                                   Resistance     Support
              Mch Canola           485.20         474.10
              May Canola           493.90         483.20

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