ICE canola futures rise on tariff relief

All figures in Canadian dollars unless noted

BRANDON, Manitoba, Jan 20 (Reuters) - ICE canola futures rose Monday on relief that the Trump administration is not immediately imposing tariffs on imports, including Canadian canola.

• March canola RSH5 rose $15.90 to $631.90 per metric ton, taking it back above some of the daily moving averages it recently fell through. On Jan. 16 March futures had their lowest close since Dec. 19, but bounced back in the last two sessions.

• The Chicago Board of Trade's main crops contracts did not trade in the daily session due to the Martin Luther King Jr. holiday. Canola traders said they will be watching those markets when they reopen to see how they react to U.S. President Donald Trump's inauguration speech, his executive orders, and signals from his administration about its intentions.

* Canola's rise Monday was a sign of relief after Trump's threats to hit trading partners like Canada with tariffs, but is temporary until the U.S. administration's plans are clearer, traders said.

* The tariff threat has been reduced, but is not gone, said a trader. Biofuels rules and restrictions on used cooking oil from China are issues the markets are still unsure about, traders said.

• Euronext rapeseed futures COMc1 rose 0.42% and Malaysian palm oil futures FCPOc3 rose 0.38% Monday. POI/

• The Canadian dollar CAD= rose slightly. CAD/

(Editing by Deepa Babington)