Howard Leaman Nov 19/19
Canola traded on both sides of unchanged again on Tuesday, ending
higher. The market was supported by spillover buying from the soy complex,
palm oil and to a lesser extent European rapeseed. In addition, after a
steady start against the U.S. dollar on Tuesday, the Canadian dollar fell
by about a third of a cent later in the day.
The buying in canola was curbed by technical selling as prices ran
into resistance near the top of their consolidation pattern on the price
charts. In addition, there was some concern that the CN Rail strike could
curtail movement of canola to export positions, but those concerns were
countered by talk that if the strike lasts more than a few days the
government is apt to order workers back to work.
Jan Canola 466.50 460.10
Mch Canola 475.10 469.40
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