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Howard Leaman                                                     Jan 28/20

     Canola traded on both sides of unchanged on Tuesday, ending higher. 
The market got off to a soft start due to follow through selling after its 
recent drops in sympathy with other markets. Concern that coronavirus will 
damage the world economy has led to aggressive selling in many markets. A 
firmer tone in the Canadian dollar added to the weakness in canola, as it 
posted a tenth of a cent gain against the U.S. dollar.
     The selling in canola subsided, however, and prices rallied to the 
plus side into the close of trade. Talk that the market was oversold and
due for a bounce supported canola. A bounce in other vegetable oil markets
added to the buying in canola. Palm oil ended higher, European rapeseed 
mixed and the soy complex ended with "only" small losses. 

                                   Resistance     Support
              Mch Canola           483.10         456.20
              May Canola           491.60         465.30

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