ICE canola futures end higher, led by front-month July

May 16 (Reuters) - ICE canola futures closed higher on Friday, led by the nearby July contract on tightening supplies of last year's harvest amid brisk export demand, along with bargain-buying following a two-session slide, traders said.

• July canola RSN5 settled up $8.30 at $702.70 per metric ton and new-crop November canola RSX5 ended up $5.70 at $673.70.

• Limited precipitation in Saskatchewan over the past week allowed producers to make substantial seeding progress, the province's weekly crop report said. Canola seeding in Saskatchewan was 29% complete, the report said. GRO/SAS

• Chicago Board of Trade July soyoil futures BON25 ended down 0.39 U.S. cent at 48.93 U.S. cents per pound and CBOT July soybeans SN25 ended down 1-1/4 U.S. cents at US$10.50 per bushel.

• Euronext August rapeseed futures COMQ5 rose 1.15% while Malaysian palm oil futures FCPOc3 fell 1.14%. POI/

• The Canadian dollar CAD= weakened against the greenback and the yield on benchmark government debt slipped. CAD/