Canola continued to hover near the top of its recent range Thursday, closing at $462.60 per tonne for the November futures contract, a drop of $2.20.Canola opened at $466.30, managed to crawl up to only $466.90 during the Thursday session, hit a low of $460.20 and closed below both the open and yesterday’s close.Weather worries continue to keep canola relatively strong and holding near the top of its recent range, which has now three times peaked in the $460 to $470 range and once reached up to the $470-480 level, all since mid-July.However, canola was not as strong as soybeans, and a falling Canadian dollar did not stop canola dropping.Chicago November soybean futures were up Thursday by three cents to $10.07 US per bushel, corn edged slightly higher to $4.47 on the December contract, December oats rose four cents to $2.84 while Minneapolis hard red spring wheat futures for December rose nine cents to $7.35.The Canadian dollar fell compared to the U.S. dollar, slipping to 94.85 cents after trying to rally early in the day. Crude oil rose $1.03 to $74.94 and gold rose $.70 to $1,251.The Dow Jones Industrial Average continued the rally begun Wednesday, reaching 10,320, a rise of 50 points. Toronto’s TSX rose 107 points to 12,111.
Canola takes dip
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