ICE canola futures jump on tight stocks

WINNIPEG, Manitoba - May 2 (Reuters) - ICE canola futures jumped Friday on tight stocks despite weak global vegoils.

• July canola RSN5 settled up $11.40 at $708 per metric ton. November RSX5 rose $4.90 to $657.40.

• The surge in nearby canola values reveals how tight canola stocks have become, traders said. With exports continuing and farmers being grudging with deliveries in the busy early seeding period, buyer have had to chase prices higher.

• Friday's close was the highest for the July contract since May 29, 2024.

• Competing vegoil crops fell Friday, underlining canola's relative strength.

• Chicago Board of Trade soyoil futures BOv1 fell 0.36%.

• Euronext August rapeseed futures COMQ5 rose 2.11%. Malaysian palm oil futures FCPOc3 fell 0.77% on weak demand and currency factors. POI/

• The Canadian dollar CAD= stayed near seven-month highs on post-election optimism. CAD/