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Howard Leaman                                                     Mch 20/19

     Canola traded on both sides of unchanged on Wednesday, ending mixed.
The nearby contract ended with small gains, while deferred positions, 
starting with the March 2020 contract were settled slightly lower. Traders 
appeared to be taking a wait-and-see stance given uncertainty surrounding 
Canadian canola and U.S. soy sales to China and the upcoming North American 
growing season. Political considerations continue to restrict Chinese 
buying.
     Spillover buying from European rapeseed and palm oil, combined with a 
soft tone in the Canadian dollar against the U.S. dollar provided 
underlying support to canola, but the buying was limited by only a steady 
tone in the soy complex. In addition, the Canadian dollar retraced its
losses later in the day to move back above $.75 U.S.

                                   Resistance     Support
               May Canola          466.80         454.00
               Jly Canola          454.00         462.40

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