CHICAGO, Sept 12 (Reuters) - ICE (NYSE:ICE) Canada canola futures rose 1.5% in their biggest one-day gain since June 28 on Thursday following a rally in the U.S. soybean market, traders said.
* The benchmark November canola futures contract RSX9 closed $6 higher at $447.10 per tonne.
* The contract rallied through its 10-day moving average during the session. It briefly topped its 20-day, 30-day, 40-day and 50-day moving averages but failed to hold support above those levels.
* Canadian canola production is expected to fall 4.8% to 19.4 million tonnes in 2019 despite higher yields, Statistics Canada said on Thursday in a report based in part on satellite and agroclimatic data, making it the smallest harvested canola crop anticipated in four years.
* Investors viewed the forecast, which was much higher than StatsCan's August report based on farmer surveys, as bearish but the market shrugged it off due to the spillover strength from soybeans, a trader said.
* The November-January RSX9-F0 canola spread traded 6,079 times, closing at a $8.70 January premium. The January-March spread RSF0-H0 traded 1,823 times.
* Chicago Board of Trade soybean futures surged more than 3% on Thursday on news of fresh export sales to China and signs of an easing of the U.S. trade dispute with the world's biggest buyer of the oilseed. The benchmark CBOT November soybean contract SX9 ended 29 U.S. cents higher at U.S. $8.95-1/2 a bushel.
* The Canadian dollar weakened to a six-day low against its U.S. counterpart on Thursday as oil prices fell and the greenback climbed broadly after the European Central Bank announced measures to boost the region's economy. CAD/