Canola Prices Rebound, Follows Soy Higher

Canola prices rebounded in the latter part of the week, driven by a weak dollar which continues to trade under pressure.  The weakness in the greenback, which is at a 3-year low against most major currencies, lifted commodity products that are quoted in dollars as a weaker dollar makes these products less expenesive in other currencies.

The daily chart of canola shows that prices rebounded after hitting support…