ICE canola futures rise on bargain buying, technicals

WINNIPEG, Manitoba - March 18 (Reuters) - ICE canola futures advanced for a second straight session on Tuesday in a continued rebound from last week's steep selloff, when heavy fund long liquidation and tariff concerns dragged actively traded contracts to lifetime lows.

• May canola RSK5 settled up $4.90 at $574.20 per metric ton. July canola RSK5 ended the session up $3.50 at $585.90.

• The lack of heavy fund selling seen last week and some bargain-buying at the lower prices helped to underpin canola futures on Tuesday. Technical buying offered further support with the market seen in oversold territory at the start of the week.

• Canola farmers have slowed cash and forward sales after last week's drop in futures values, prompting expectations that prices would recover, traders said.

• Chicago Board of Trade soyoil futures BOv1 rose 1.05%.

• Euronext rapeseed futures COMc1 added 1.13%.

• The Canadian dollar CAD= weakened after posting an 11-month high on Monday. CAD/