Canola Prices Grind Higher but a Divergence Could be Unfolding

Canola prices continue to remain eleveated despite whipsaw price action as bean oil and beans trade in large ranges.  On a weekly basis prices have pierced through resistance near the Bollinger Band high which is 2-standard devations above the 20-week moving average.  Support is seen near the 20-week moving average at 34.

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