ICE canola futures rebound on Monday after a down week

WINNIPEG, Manitoba - March 17 (Reuters) - ICE canola futures rose on Monday, as traders emerged from last week's gloom.

• May canola RSK5 settled up $8.80 at $569.30 per metric ton. On March 7 it closed at $645 before new tariffs from China and continued threats from the U.S. Trump administration sent prices plunging.

• The plunge in canola prices has caused farmers to back away from cash and forward sales, traders said. Without farmer and fund selling, prices could recover, they said.

• The downturn in canola prices spurred and was increased by a sell-off in long fund positions in canola futures, which had been at record levels.

• Chicago Board of Trade soyoil futures BOv1 rose 1.23%.

• Euronext rapeseed futures COMc1 fell 0.53%. Malaysian palm oil futures FCPOc3 slumped 4.59% on weakness in Dalian markets and weak demand in Asia. POI/

• The Canadian dollar CAD= strengthened. CAD/