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Howard Leaman                                                     Dec 14/18

     Canola traded on both sides of unchanged on Friday, ending mixed. The
active nearby contracts ended lower, but the inactive positions - starting
with May 2020 - were settled lower. The weakness was attributed to
spillover selling from the soy complex and to a lesser extent European
rapeseed. Palm oil was firmer. The U.S. announced on Friday that China had
bought more U.S. soy, but the quantity apparently again disappointed
traders. Canola traders are also concerned about soft demand for Canadian
canola.
     The selling in canola was curbed by weakness in the Canadian dollar,
as it fell by about a fifth of a cent against the U.S. dollar. In addition,
support on the canola price charts was not clearly violated on Friday and
traders appeared to be reluctant to sell too aggressively ahead of the
weekend.

                                   Resistance     Support
               Mch Canola          496.30         485.00
               May Canola          504.00         492.10

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