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Canola Gives Up Gains in Last Hour

Canola futures gave up earlier gains on Thursday to finish mostly lower.

While Chicago soybeans and soyoil posted gains on the day, they also ended down from their earlier highs. Support for canola came from gains in Malaysian palm oil and European rapeseed, while lower Chicago soymeal weighed on values. Strength in the Canadian dollar also pressured.

The Saskatchewan crop report put the provincewide harvest of all crops reached 36% complete, with 11% of the canola combined.

November canola gained $1.70 to $892.50, January fell 50 cents to $875.60 and March lost $1.80 to $856.20.

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