ICE canola futures on tariffs relief

WINNIPEG, Manitoba - April 3 (Reuters) - ICE canola futures rose Thursday despite soyoil weakness as traders reacted to Canada appearing to dodge tariffs on canola.

• The U.S. Trump administration announced tariffs on countries around the world, but did not hit Canada or Mexico with tariffs on products covered by the North American free trade deal, which should protect canola exports for now, traders said.

• May canola RSK5 settled up $9.40 at $635.90 per metric ton. November canola RSX5 fell $2.70 to $625.80 as nearby demand responded to the apparent reprieve by buying close and selling later-dated contracts.

• "No changes to the tariffs situation for Canada or Mexico was kind of the main driver," said commodities trading advisor of Ventum Financial. "It's critical to canola oil and meal exports."

• Chicago Board of Trade soyoil futures BOv1 fell 0.6% and May corn CK25 edged lower as traders awaited responses to the Trump tariffs from buyers around the world. Competitors like Brazil and Ukraine are seen as alternative sources for corn and other crops if foreign countries hit back.

• Euronext rapeseed futures COMc1 fell 1.43% and Malaysian palm oil futures FCPOc3 fell 0.64% Thursday. POI/

• The Canadian dollar CAD= rose on weakness in the U.S. dollar USD=. CAD/