(All figures in Canadian dollars unless noted)
WINNIPEG, Manitoba, March 16 (Reuters) - ICE Canada canola
futures rose for a third straight session on Wednesday, lifted
by short-covering.
* Commercial hedge pressure seen picking up, limiting the
market's gains.
* Funds own a large net short position of an estimated
35,000 May contracts. Expected to start covering position once
canola breaches the 50-day moving average around $475.
* Most-active May canola RSv1 gained $2.90 at $470.20 per
tonne.
* July canola RSN6 added $4.80 to $473.70 per tonne.
* May-July canola spread traded 2,498 times.
* Chicago May soybeans SK6 closed higher on support from a
falling U.S. dollar.
* Malaysian May palm oil 1FCPOK6 eased and NYSE Liffe
Paris May rapeseed COMK6 rose.
* The Canadian dollar CAD= was trading at $1.3198 to the
greenback, or 75.77 U.S. cents at 1:14 p.m. CDT (1814 GMT),
higher than Tuesday's close at $1.3362 to the greenback, or
74.84 U.S. cents.