ICE canola futures rise for 4th day, lifted by dry US weather

WINNIPEG: ICE canola futures rose on Thursday for the fourth straight session, boosted by dry US weather that lifted corn and soybean prices.

* November canola gained $2.80 to $452.20 per tonne, extending the contract's longest rally since May. Next level of resistance is seen around $460, the 100-day moving average, a trader said.

* The contract's intra-day high of $454.50 was the highest price in more than one month.

* Recent rain has helped later-seeded crops in Saskatchewan, the government of the Canadian province said.

* November-January canola spread traded 4,586 times.

* Chicago November soybeans gained on dry conditions in the US Corn Belt.

* Paris Matif November rapeseed futures and Malaysian October palm oil futures also rose.

* The Canadian dollar gained against its US counterpart as oil prices rebounded on expectations that falling crude prices may lead to production cuts.