Canola started and ended the last day of August at about the same level, rising only 90 cents from the open to close at $462 per tonne on the November contract, a fall of 70 cents from Monday’s close. Later contracts showed slight gains, a product of weather worries, traders said.Wet and cool weather is delaying harvest in many canola-growing regions, and this made traders relatively bullish about canola prices because of the risk to production.Prairie crops are already behind, so any delay brings the threat of frost closer. Chicago grains and oilseeds were soft but fairly flat, while wheat was the big loser on the day, dropping 19 cents. Minneapolis December spring wheat futures fell 16 cents. Equity markets were fairly flat, with only slight gains in Toronto and New York.Oil slumped $3 per barrel, falling beneath $72, while gold rose $11 to $1,248.The Canadian dollar fell to 93.8 cents compared to the U.S. dollar.
Canola remains stable
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