ICE canola futures return to rising trend

WINNIPEG, Manitoba, April 15 (Reuters) - ICE canola futures returned to gaining ways Tuesday, joining soyoil and European rapeseed in a vegoils rise, despite palm weakness.

• July canola RSN5 settled up $7.80 at $676.50 per metric ton. November RSX5 rose only 30 cents, to $649, leaving it at a heavy discount to old-crop contracts.

• July futures are now at the upper reaches of a range that has seen them sell off a number of times since spring 2024. Traders said increased farmer selling and demand rationing tend to combine to cap gains near today's levels, but low stocks and strength in Chicago soyoil and European rapeseed are providing support.

• Chicago Board of Trade soyoil futures BOv1 rose 3.28% following yesterday's down day, more than recovering those losses. Traders said optimism is spreading that the U.S. government will boost biodiesel blending requirements.

• Euronext rapeseed futures COMc1 rose 2.16%. Malaysian palm oil futures FCPOc3 fell 1.49% Tuesday on weak demand in Asian markets, spillover negativity from Monday's Chicago soyoil market and predictions of higher production. POI/

• The Canadian dollar CAD= fell but stayed near multi-month highs. CAD/