Howard Leaman Sep 16/19
Canola was mainly stronger on Monday, ending higher. The strength was
attributed to technical buying and spillover support from soy oil. The
technical bias in canola has clearly shifted to the upside, and traders
were apparently scrambling to cover previous sales. Canadian farmers were
also busy harvesting, and not selling their crop yet.
The buying in canola was curbed by expectations that farmer selling
will increase soon as the new crop comes onto the market. In addition, the
Canadian dollar gained about a quarter of a cent against the U.S. dollar
Nov Canola 454.90 437.20
Jan Canola 464.50 444.90
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