ICE canola futures rebound on optimism about tariffs

WINNIPEG, Manitoba, March 5 (Reuters) - ICE canola futures rebounded on Wednesday on optimism that U.S. tariffs on Canadian canola might not last long, or be as severe as at present.

• On Wednesday the Trump administration said it was planning a one-month relaxation for the main North American automakers of the 25% tariffs introduced on Tuesday on Mexico and Canada. In his Tuesday night address to Congress, President Donald Trump talked little of the tariffs, raising hopes that they might not be as long-lasting as first feared.

• May canola RSK5 settled up $11.20 at $632.50 per metric ton. All contracts rose.

• Chicago Board of Trade soyoil futures BOv1 rose but stayed near two-month lows, where they have fallen since the end of February, with a 0.35% gain.

• Euronext rapeseed futures COMc1 fell 2.25% and Malaysian palm oil futures FCPOc3 rose 1.56% Wednesday. POI/

• The Canadian dollar CAD= gained slightly. CAD/