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Canada canola resumes climb after two straight losses

WINNIPEG, Manitoba - ICE Canada canola rose on Tuesday, following two straight sessions of losses, lifted by commercial and fund buying. * Canola's gain was the first since Statistics Canada estimated higher-than-expected Canada canola production...

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WINNIPEG, Manitoba - ICE Canada canola rose on Tuesday, following two straight sessions of losses, lifted by commercial and fund buying.

* Canola's gain was the first since Statistics Canada estimated higher-than-expected Canada canola production on Friday.

* Spillover strength in soyoil also lifted the market.

* January canola gained $3.90 at $473.30 per ton.

* Most-active March canola added $4.40 at $483.20 per ton.

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* January-March spread traded 8,991 times.

* Chicago January soybeans dipped on profit-taking and positioning ahead of Wednesday's monthly U.S. Department of Agriculture report.

* Malaysian February palm oil and NYSE Liffe Paris February rapeseed fell.

* The Canadian dollar was trading at $1.3588, or 73.59 U.S. cents at 1:08 p.m. CST (1908 GMT), lower than the Bank of Canada's official close of $1.3513, or 74.00 U.S. cents. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by James Dalgleish)

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