Howard Leaman Jan 23/20
Canola spent most of Thursday in negative territory, ending lower for
the day. The weakness was attributed to spillover selling from soybeans,
soy oil, palm oil and European rapeseed. Soy meal was firmer on Thursday.
Technical selling extended the losses in canola as it broke below support
on the price charts.
The selling in canola was curbed initially by weakness in the Canadian
dollar. The dollar broke below $0.76 U.S. on Thursday morning, down almost
three tenths of a cent at one point. The Canadian dollar recovered, however,
to trade back above $0.76, up slightly on the day.
Mch Canola 483.10 462.50
May Canola 491.60 470.40
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