Headline News


Howard Leaman                                                     Feb 23/18

     Canola traded on both sides of unchanged again on Friday, ending
mixed. The market was supported by spillover buying from the soy complex,
European rapeseed and palm oil. Dry conditions in Argentine soy crop areas,
and excess moisture in Brazil continue to provide underlying support to the
vegetable oils. Technical buying extended the gains in canola.

     The buying in canola was curbed by strength in the Canadian dollar,
and talk that Argentine crop losses were being offset by upward revisions
in Brazilian soy production, large U.S. soy stocks, and talk of possible
increased Canadian canola acreage this spring. The Canadian dollar took a
run at $.79 U.S. on Friday, up about a third of a cent. 

                                   Resistance     Support
               May Canola          526.30         505.20
               Jly Canola          529.60         509.70