Headline News

Howard Leaman                                                     Mch 22/19

     Canola was on the defensive from the start of trade on Friday, ending
lower with relatively large losses. The weakness was attributed to a
statement by the Canola Council of Canada that China is no longer buying
Canadian canola. The selling built on itself as prices fell. Spillover
weakness from the soy complex, palm oil and to a lesser extent European
rapeseed added to the downward pressure in canola.
     The selling in canola was curbed by weakness in the Canadian dollar
and fears of driving prices too low, too quickly ahead of the growing
season. The Canadian dollar lost about a quarter of a cent against the U.S.
dollar on Friday. 

                                   Resistance     Support
               May Canola          468.90         448.40
               Jly Canola          477.30         456.90