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Howard Leaman                                                     Dec 13/17

     Canola traded on both sides of unchanged again on Wednesday, ending
mixed. The nearby contracts ended lower, but new crop positions starting
with the November 2018 contract were settled higher. The weakness was
attributed to technical selling and spillover selling from palm and soy
oils. European rapeseed was also lower early on Wednesday, but partially
recovered to end mixed. There are areas of concern in key South American
soy growing areas, but forecasts are calling for better weather and the
concerns are apparently not strong enough to curb the selling in the

     The weakness in canola was curbed by a firmer tone in soybeans and
meal, and talk that canola is becoming oversold and due for a bounce. The
Canadian dollar traded on both sides of unchanged against the U.S. dollar
on Wednesday and appeared to have little influence on canola.

                                   Resistance     Support
               Mch Canola          520.00         502.50
               May Canola          526.30         510.40

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