Howard Leaman Feb 18/20
Canola traded on both sides of unchanged on Tuesday, ending higher.
Most of the strength was attributed to talk that last Friday's selling
ahead of the long weekend was overdone. The market bounced off support on
the price charts on Tuesday to keep prices in a consolidation pattern. A
soft tone in the Canadian dollar added to the buying in canola. The dollar
lost about a tenth of a cent to the U.S. dollar.
The buying in canola was curbed by continued concerns about the
protests that are blocking rail movement in parts of Canada, and to a
lesser extent concerns that the coronavirus will dampen the world economy.
May Canola 474.00 467.00
July Canola 479.40 474.20
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