# Rapeseed Breaks Resistance While Nearing July Highs

> February rapeseed on Euronext Paris rose sharply on November 1, with its largest one-day gain in over three months, closing EUR4 higher. The move broke resistance at the 67% retracement level and approached the July high, with commercial buying supporting prices.

- Date: 2017-11-01 · published 2017-11-01T12:00:00.000Z
- Category: market · region Europe · magnitude low
- Page: https://feedsoft.ai/events/68083-rapeseed-breaks-resistance-while-nearing-july-highs
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Rapeseed strength tied to euro weakness against the dollar supports European oilseed meal values, which feed buyers compete for. The price action is technical and currency-driven, so the impact on meal prices is modest.

## Read by commodity

- EURUSD: bearish ▼
- CANMEAL: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/canada-markets/blog-post/2017/11/01/rapeseed-breaks-resistance-nearing

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.