ICE canola futures juggle trade deal talk and mixed weather

WINNIPEG, Manitoba, June 11 (Reuters) - ICE canola futures rose on Wednesday as dry weather and optimism about potential U.S. trade deals trumped forecasts of rain for much of Western Canada.

• July canola RSN5 settled up $5.10 at $714.30 per metric ton. November RSX5 settled up $2.70 at $693.90.

• Farmers in Western Canada are fretting about too-dry soil moisture, but rain is forecast for most of the area in the next week. Many farmers completed seeding quickly because of the dry conditions, some are still finishing, but virtually all need substantial rainfall soon to get their crops well established.

• A more than 4% jump in crude oil futures CLc1 boosted canola.

• Talk about a Trump trade deal with China, as well as negotiations for a Canada-U.S. deal, encouraged traders to be optimistic about the global economic outlook.

• Chicago Board of Trade soyoil futures BOv1 rose 0.48% on trade deal optimism.

• Euronext August rapeseed futures COMQ5 were flat on Wednesday.

• Malaysian palm oil futures FCPOc3 fell 0.65%. POI/

• The Canadian dollar CAD= strengthened. CAD/