March 4 (Reuters) - ICE (NYSE:ICE) May RSK9 canola futures closed higher on Monday, halting a six-session slide, as commercial buying helped lift the benchmark contract off a life-of-contract low, traders said.
* An accelerating decline in futures over the past three weeks has bolstered crushers' profit margins, encouraging them to add coverage, traders noted.
* However, the light bounce in canola was limited by continuing worries about poor export demand, especially from China, given Sino-Canadian political tensions.
* China's government and its leading smartphone maker, Huawei Technologies Ltd HWT.UL , on Monday stepped up pressure on U.S. and Canadian governments in a dispute over market access that has ensnared Huawei's chief financial officer, who faces U.S. criminal charges. March canola RSH9 settled up $1.50 at $457.80 per tonne.
* Most-active May canola RSK9 ended up $1.50 at $462.80 per tonne after recording a contract low at $453.90, while July canola RSN9 rose $1.10 to end at $471.20 after notching a contract low at $462.90.
* The May-July canola spread RSK9-N9 traded 2,990 times between $8.20 and $8.90, premium July.
* Chicago March soybeans SH9 settled up 4-1/2 U.S. cents at US$9.16 per bushel on news reports that Beijing and Washington are close to settling a lingering trade dispute. Paris Matif May rapeseed futures COMK9 fell 1.05 percent and Malaysian May palm oil futures 1FCPOK9 fell 1.83 percent.
* The Canadian dollar CAD= was trading at $1.3304 to the U.S. dollar, or 75.17 U.S. cents, at 3:13 p.m. CST (2113 GMT).
* The Canadian currency weakened to its lowest point in nearly three weeks against its U.S. counterpart as investors bet the Bank of Canada would leave interest rates unchanged later this week.