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Howard Leaman                                                     Jan 27/20

     Canola was on the defensive from the start of trade on Monday, ending
lower with relatively large losses. The weakness was attributed to
spillover selling from other markets, including the soy complex, palm oil
and European rapeseed, as traders reacted to reports of the spread of the
coronavirus.
     The selling in canola was curbed by weakness in the Canadian dollar
and talk that canola was oversold and vulnerable to a bounce. Key support
levels on canola's price chart were tested on Monday and was not clearly
violated. The Canadian dollar dropped below $0.76 U.S., down about a fifth
of a cent.

                                   Resistance     Support
              Mch Canola           483.10         461.00
              May Canola           491.60         464.10

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