Canola Prices Stabilizes but Momentum Remains Negative

Canola prices edged higher on Wednesday but continue to trade under pressure, in the wake of one of the largest bean harvests on record.  Prices action has been negative, but on a weekly basis have appeared to have stabilized above support near the Bollinger band low, which is 2-standard deviation below the 20-week moving average.  Resistance on canola prices on a weekly basis is seen near the 20-week…