April 9 (Reuters) - ICE Canada canola futures closed lower on Monday on technical selling including profit-taking, turning downward after the most-active July contract RSN8 reached a life-of-contract high, traders said.
* Market drew underlying support from expectations that Chinese buyers will boost canola purchases if the trade dispute between U.S. and China leads to tariffs on U.S. soy imports.
* May canola RSK8 ended down 80 cents at $531.00 per tonne and July canola RSN8 fell 60 cents to $536.70 after recording a contract high at $539.50.
* New-crop November canola RSX8 ended down 60 cents at $521.70 a tonne.
* The May-July canola spread RSK8-N8 traded about 6,400 times as traders rolled May positions forward ahead of the contract's delivery period.
* Chicago Board of Trade soybean 0#S: futures rose on fresh export business. The Canadian dollar CAD= strengthened to a near six-week high against its U.S. counterpart, boosted by higher oil prices and a business survey from the Bank of Canada that supported expectations for further interest rate hikes. CAD/