Canola ended flat Thursday, after surging early in the session, on a day in which some wheat contracts hit two-year highs.Canola hit $535 per tonne on the Winnipeg November futures contract after opening at $526, but closed at $529.20 for a loss on the day of 80 cents.Traders attributed the mediocrity of prices to flagging buying interest after the recent rally, as well as translational impacts of Canadian dollar strength.Soybeans were strengthened by the weakening U.S. dollar and strong export sales, closing the day slightly higher in some Chicago contracts. The January soybean contract closed at $12.36 per bushel.Corn ended slightly higher, at $5.79 per bushel, experiencing a knock-on effect from wheat.Minneapolis hard red spring wheat futures surged more than 18 cents per bushel to $7.75 for the December contract as anxieties about the state of U.S. winter wheat intensified. Two-year highs were set in both Minneapolis and Kansas City.The Canadian dollar strengthened Thursday, regaining value it had recently lost to the U.S. dollar. The loonie ended at almost 97.9 cents in U.S. dollar terms. Oil reached $82.18 per barrel, a gain of 24 cents.Toronto’s TSX stock market had an up and down day, ending almost unchanged, as did the Dow Jones Industrial Average.
Canola levels off
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