Headline News

Howard Leaman                                                     Nov 09/18

     Canola traded on both sides of unchanged on Friday, ending higher with
small gains. The market was mainly on the defensive due to reports of ample
available Canadian canola supply, soft demand, and spillover selling from
soy oil and palm oil. The market continued to find some support on the
price charts, but the bearish technical outlook stifled any attempts at a
bounce in price.
     The selling in canola was curbed by weakness in the Canadian dollar,
and spillover buying from European rapeseed, soybeans and to a lesser
extent soy meal. The Canadian dollar lost about four-tenth of a cent
against the U.S. dollar on Friday. Canola also gained some support from
cautious trading ahead of the long weekend. The ICE Futures Canada market
will be closed on Monday for the Remembrance Day holiday.

                                   Resistance     Support
               Jan Canola          483.60         479.00
               Mch Canola          491.20         486.70