Canola Prices Climb as Momentum Accelerates

Canola prices moved higher during the course of the week, notching up its third straight week of higher prices.  Strength in the vegetable oil markets appears to be driven by demand despite lower prices of grains and commodities in general.

Canola ran into resistance at the Bollinger band highs which is 2-standard deviations above the 20-week moving average.  A close above this level would likely signify a…