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Howard Leaman                                                     Jun 19/19

     Canola was mainly on the defensive on Wednesday, ending lower. The
weakness was attributed to forecasts calling for widespread rainfall in
western Canada that greatly reduced drought fears. Strength in the Canadian
dollar and spillover selling from soybeans, meal and European rapeseed
added to the downward move in canola. The Canadian dollar gained about four
tenths of a cent against the U.S. dollar on Wednesday.
     The selling in canola was curbed by continued talk that wet conditions
in key U.S. soy growing areas could limit just how much soy gets planted
this year. That support was shaken somewhat on Wednesday due to forecasts
calling for drier weather in wet areas.

                                   Resistance     Support
               Nov Canola          477.70         462.50
               Jan Canola          484.00         468.50

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