CHICAGO, July 19 (Reuters) - ICE (NYSE:ICE) canola futures rose to a three-week high on Friday on support from a rally in the soybean market, traders said.
* Some speculative buying and short-covering also helped boost canola futures, a trader said.
* The market closed off its highs on commercial hedging.
* Volumes for the front-month contract were the highest since May 29.
* Most-active November canola RSX9 ended $4.20 higher at $449.60.
* The contract broke through resistance at its 10-day moving average.
* It also briefly topped its 20-day moving average, the first time above that level since June 21, but failed to hold support above that key technical point.
* The November-January canola spread RSX9-F0 traded 4,507 times, settling $7.00, premium January, down from $7.10 on Thursday.
* Chicago Board of Trade August soybeans SQ9 rallied 20-1/4 U.S. cents to US$9.01-1/2 a bushel, supported by short-covering after falling to its lowest in more than a week on Thursday.
* Paris Matif August rapeseed futures COMQ9 rose 0.6%, while Malaysian September palm oil futures FCPOU9 eased 0.51%.
* The Canadian dollar fell to a nine-day low against its broadly stronger U.S. counterpart on Friday as domestic data showing a surprise decline in May retail sales raised bets that the Bank of Canada would cut interest rates this year. CAD/