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Howard Leaman                                                     Mch 16/19

     Canola traded on both sides of unchanged again on Friday, ending
higher in most contracts. The distant May 2020 contract was settled lower.
The market was supported by weakness in the Canadian dollar, and spillover
buying from palm oil, European rapeseed, and the soy complex for much of
the day. Soy oil dipped into negative territory late in the day, to end
lower. Technical buying extended the gains in canola. The Canadian dollar
fell to its lowest level against the U.S. dollar in nine months of Friday,
down another quarter of a cent. 

     The buying in canola was curbed by this year's build up in Canadian
canola stocks, with talk that supply will likely increase further in
2018/19 thanks to potentially increased canola acreage.    

                                   Resistance     Support
               May Canola          531.00         517.20
               Jly Canola          535.00         522.80

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