April 1 (Reuters) - ICE (NYSE:ICE) canola futures closed higher on Monday as funds covered short positions in the wake of last month's contract lows and farmers remained reluctant sellers, supporting cash values, traders said.
* Seasonal weight restrictions were in effect on roads in the Canadian Prairies, discouraging farmers from hauling canola, traders said.
* Rallies capped by jitters over trade tensions with China, which has banned Canadian imports of canola seed from two major shippers. Most-active May canola RSK9 rose $1.30 to settle at $456.60 per tonne.
* July canola RSN9 ended up $1.50 at $464.40 per tonne.
* The May-July canola spread RKS9-N9 traded 3,633 times between $7.50 and $8, premium July.
* Chicago Board of Trade May soybeans SK9 settled up 11-1/4 U.S. cents at US$8.95-1/2 per bushel, with optimism about a trade deal with China sparking a rebound from Friday's sell-off, traders said. Paris Matif May rapeseed futures COMK9 rose 0.49 percent and Malaysian June palm oil futures 1FCPOM9 rose 0.33 percent.
* The Canadian dollar CAD= firmed on rising crude oil prices, reaching its highest since March 21. The unit was trading at $1.3303 to the U.S. dollar, or 75.17 U.S. cents at 1:49 p.m. CST (1849 GMT).