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Southwest MFA Agri Services - Cassville, Neosho, Berryville & Wheaton.

 

 
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Howard Leaman                                                     Oct 22/19

     Canola traded on both sides of unchanged again on Tuesday, ending 
higher. The market got off to a soft start, but recovered in response to 
spillover buying from soy oil, palm oil and European rapeseed, and a soft
tone in the Canadian dollar. The dollar was down marginally against the 
U.S. dollar on Tuesday. Less than favourable harvesting conditions in parts
of western Canada also lent continued underlying support to canola.
     The buying in canola was curbed by harvest pressure as traders 
anticipate increased farmer selling. Harvesting conditions in western 
Canada are improving which should allow for some progress over the short
term.

                                   Resistance     Support
              Jan Canola           473.40         457.40
              Mch Canola           482.20         466.30

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