Technicals Point to Higher Canola Prices

Canola prices edged lower on Thursday, as traders took profits following the recent rally. Prices have risen near 5% since mid-June. Imports to China will continue to be a factor for price action. Though China imports have accelerated since April, they are unlikely to match the double-digit growth seen in the 2000s as the country is favoring soyoil over other vegetable oils due to a continuing rise in soybean crush capacity…