WINNIPEG, Manitoba, Jan 16 (Reuters) - ICE (NYSE:ICE) canola futures rose on Wednesday, lifted by bargain-buying after hitting a contract low the previous day.
* Canola has no fundamental reason to move sharply up or down currently, a trader said. He said he was watching for potential fallout from a diplomatic dispute between Canada and China.
* Most-active March canola RSH9 gained $3.60 to $479.40 per tonne.
* March-May canola spread traded 2,649 times.
* Chicago March soybeans SH9 rose in a rebound from the prior session's lows. February Paris Matif rapeseed futures /COMG9 edged higher and Malaysian April palm oil futures /1FCPOJ9 eased.
* The Canadian dollar CAD= was trading at $1.3248 to the U.S. dollar, or 75.48 U.S. cents at 1:20 p.m. CST (1920 GMT).