Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Wed Jan 29, 2014 04:26 PM CST

With the soybean market threatening to move lower as the U.S. passes the torch to Brazil as the supplier of choice for the upcoming months, one has to question the potential for the canola market to avoid a further slide, given a weaker tone in the soybean market. Today's close was perhaps encouraging, with March beans down 16 1/4 cents and canola down $2.60 per metric tonne, although selling may intensify as support levels are taken out.

Should the $421/mt March contract low be breached, the monthly continuous active chart indicates potential nearby support in the $412 to $415/mt range. ...

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