Canola Bounces but Trend is for Lower Prices

Canola oil prices edged higher on Thursday as weakness in the Canadian dollar made canola more attractive on the international market. Expectations of tight canola stocks at the end of the 2015/16 year also underpinned the market.

Despite the recent rebound, prices have been trading under pressure and testing the recent low.  Prices broke through trend line resistance seen near 35.25,…