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Howard Leaman - hleaman@cogeco.ca Sep 07/10
Canola - Canola traded on both sides of unchanged again on Tuesday,
ending higher. Prices were supported by continued crop concerns in western
Canada, weakness in the Canadian dollar, and spillover buying from soy.
More rain in parts of Saskatchewan and Manitoba over the long weekend only
added to the concerns about harvest delays and potential frost damage.
Forecasts are not encouraging and harvesting activity is expected to
continue to be delayed. The Canadian dollar fell by over half of a cent
against the U.S. dollar on Tuesday.
The selling in canola was curbed by profit taking ahead of
Wednesday's Stats Can stocks report and Friday's USDA crop report.
Barley - Traders were reluctant to trade barley futures on Tuesday,
and they were settled unchanged to lower. The December contract did trade,
and it ended lower.
Resistance Support
Nov Canola 468.80 453.50
Jan Canola 472.50 458.00
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