ICE canola futures rise on short-covering

All figures in Canadian dollars unless noted

WINNIPEG, Manitoba, Jan 2 (Reuters) - ICE canola futures settled up in all actively traded months on Thursday, as funds covered short positions and related markets offered mixed signals.

* Most-traded March canola futures RSH5 rose $9.10 to $625 per metric ton. Other months saw similar gains.

* Recent gains have taken March canola above both the much-watched 20-day and 100-day moving averages, suggesting bullish momentum, traders said.

* "We had a little bit of short-covering on thin trade. There's not a lot of sellers today," said a trader.

* West Texas Intermediate crude oil futures CLc1 rose more than 2%. Canola values are tightly connected to the relative values of vegoils, such as soyoil, and to energy commodities like crude oil. Canola oil can be used for both food products and in biofuels.

* Chicago Board of Trade soyoil futures BOcv1 fell slightly, with Malaysian March palm futures FCPOc3 falling sharply on weakness in Asian vegoil markets.

(Reporting by Ed White; Editing by Richard Chang)

((ed.white@thomsonreuters.com))