Canola Prices Consolidate but are Poised to Move Higher

Canola oil prices have started to consolidate after running up to 2016 highs following a runnup in soy beans and soy bean products in the wake of the USDA’s report on planting acreage.  Prices on a weekly basis have surged more than 20% since hitting a low in December.  Resistance is seen near the Bollinger band highs which are 2-standard devations above the 20-week moving average at 36.  Support…