ICE canola futures break higher to end week flat

WINNIPEG, Manitoba, June 6 (Reuters) - ICE canola futures rose on spillover optimism from Chicago on Friday after U.S. President Donald Trump said he had a cheery trade chat with the Chinese president.

• The week ended near the same point it began, at $710, with midweek weakness failing to provoke a downside selloff.

• Trump said on social media that he believes the telephone conversation had a "very positive" result, setting up U.S.-China trade negotiations. Trump's trade actions against China spurred Chinese countermeasures that have hurt U.S. soybean export prospects.

• July canola RSN5 settled up $11.90 at $710.80 per metric ton. November RSX5 rose $11.40 to $692.60.

• Ending the week with nearby canola well over the $700 mark takes a worry out of the market, traders said. Farmer selling and planting decisions can be influenced by round-number points, so old crop rising should encourage farmers to deliver canola to elevators and feel positive about seeding the new crop.

• Chicago Board of Trade soyoil futures BOv1 rose 1.82% on optimism that U.S.-China relations might become less fraught following Trump's phone call.

• Euronext August rapeseed futures COMQ5 rose 0.99%.

• Malaysian palm oil futures FCPOc3 rose 0.36%. POI/

• The Canadian dollar CAD= ended the week near recent and eight-month highs. CAD/