Headline News

Howard Leaman                                                     Aug 21/18

     Canola was mixed on Tuesday with most contracts on the defensive from
the start, but 2019 crop positions - starting with the November 2019
contract - firmer from the start. The weakness was attributed to continued
profit taking after last week's rally, reports of cooler weather in western
Canada, and spillover selling from palm oil, European rapeseed, soybeans,
soy meal and to a lesser extent soy oil. Soy oil ended with small gains. In
addition, the Canadian dollar continued its recent firm tone against the
U.S. dollar, gaining another tenth of a cent on Tuesday.
     The selling in canola was curbed by reluctant farmer selling and
hesitation to sell too aggressively ahead of next week's Stats Can
production estimate.

                                   Resistance     Support
               Nov Canola          512.90         501.00
               Jan Canola          518.50         506.20