Headline News

Howard Leaman                                                     May 22/19

     Canola traded on both sides of unchanged on Wednesday, ending higher.
The market threatened to follow through on Tuesday's weak close initially,
but recovered to post solid gains. Canola planting in western Canada has
been progressing well this spring, but traders are becoming increasingly
concerned about dry conditions. That, plus spillover buying from soy,
supported canola on Wednesday. The buying was further supported by a
downturn in the Canadian dollar. After posting a third of a cent gain
against the U.S. dollar early on Wednesday, the Canadian dollar fell to the
minus side down fifteen one-hundreds of a cent. 
     The buying in canola was curbed by continued concerns about burdensome
Canadian canola and world soy stocks. 

                                   Resistance     Support
               Jly Canola          451.80         440.40
               Nov Canola          464.40         452.80