Canola futures close higher on soybean strength

CHICAGO: ICE Canada canola futures rose on Friday, following a rally in the US soybean market.

* But canola prices closed below their session highs as the most-active July contract once again struggled to hold support above the 30-day moving average.

* July canola has hit resistance at that key technical point for five straight sessions.

* The contract also failed to take out Thursday's high.

* July canola settled $2.60 higher at $444.40 per tonne.

* July-November canola spread traded 2,703 times.

* Chicago July soybeans closed 8-1/4 cents higher at $8.29-3/4 a bushel on technical buying.

* Both Paris Matif August rapeseed futures and Malaysian July palm oil futures closed slightly higher.

The Canadian dollar strengthened against its US counterpart on Friday, recovering from a six-day low the day before.