Howard Leaman Nov 16/18
Canola was on the defensive from the start on Friday, ending lower.
The weakness was attributed to spillover selling from soy oil, palm oil and
European rapeseed, combined with strength in the Canadian dollar. The
dollar gained about a tenth of a cent against the U.S. dollar on Friday.
Optimism that U.S./Chinese trade tension was easing subsided on Friday and
soy headed lower until late in the day when some traders turned optimistic
again. Nonetheless, soy oil was unable to follow beans' and meal's late
move into positive territory.
The selling in canola was curbed by fears of driving prices too low.
The market continues to find soft support on the price charts near current
Jan Canola 483.60 475.00
Mch Canola 491.20 482.40
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