Howard Leaman Jan 29/20
Canola traded on both sides of unchanged again on Wednesday, ending
lower. The market started on a stronger note as it followed through on the
bounce that started on Tuesday. Spillover buying from the soy complex, palm
oil and European rapeseed and weakness in the Canadian dollar added to the
buying in canola. The Canadian dollar lost about a quarter of a cent
against the U.S. dollar on Wednesday.
The bounce faded later in the day, however, and canola fell into
negative territory. Concern that the coronavirus will disrupt world trade
continues to overhang many markets, and traders apparently saw the bounce
as a selling opportunity.
Mch Canola 466.20 456.20
May Canola 475.30 465.30
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