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Howard Leaman                                                     Dec 14/17

     Canola did trade on both sides of unchanged again on Thursday, but the
bias was clearly to the downside and prices ended lower. The weakness was
attributed to spillover selling from the soy complex, strength in the
Canadian dollar, and technical selling. The Canadian dollar gained about
four tenths of a cent against the U.S. dollar on Thursday. Weakness in the
cash canola market in western Canada added to the soft tone in the futures. 

     The selling in canola was curbed by talk that the market was oversold
and due for a bounce. In addition, palm oil and European rapeseed showed
some bounce on Thursday, and farmer selling of canola has slowed.

                                   Resistance     Support
               Mch Canola          520.00         501.00
               May Canola          526.30         504.90

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