March 29 (Reuters) - ICE Canada nearby canola futures edged higher on Thursday on light fund buying, although gains were capped by hedge-related pressure amid an uptick in farmer sales, traders said.
* Farmer selling accelerated this week ahead of the long Easter holiday weekend and in advance of springtime weight restrictions on rural roads, which can complicate the transport of grain.
* Markets will be closed on Friday for the Good Friday holiday.
* May canola RSK8 rose 90 cents to settle at $522.70 per tonne. July canola RSN8 gained $1.40 to $528.40 while November RSX8 added 60 cents to $516.60 a tonne.
* Canola futures posted only modest gains despite sharply higher Chicago Board of Trade soybean 0#S: futures. Soybeans jumped following a bullish prospective plantings estimate from the U.S. Department of Agriculture on Thursday showing a drop in U.S. soy acres this year. Chicago May soybeans SK8 ended 2.6 percent higher on the acreage data and hit a two-week high even as the USDA reported record quarterly stocks of the oilseed.
* NYSE MATIF May rapeseed COMK8 climbed while Malaysian May crude palm oil 1FCPOK8 fell.
* The Canadian dollar CAD=D4 firmed against the greenback as higher stock prices offset data showing the domestic economy unexpectedly contracted at the start of the year.