ICE canola futures rebound despite China duties

WINNIPEG, Manitoba, Aug 13 (Reuters) - ICE canola futures clawed back some of yesterday's losses, leaving canola only moderately lower than it was before China's shock news that it was imposing tariffs on Canadian canola seed.

• November canola RSX5 settled up $9.50 at $659.80 per metric ton. January RSF6 rose $9.70 to $672.80.

• Volume returned to near-average levels following yesterday's huge increase following China's anti-dumping duties announcement.

• China is imposing a 75.8% duty on Canadian canola seed from August 14, a move that Canada's canola industry says makes new sales virtually impossible.

• Traders said the market action suggests that some are skeptical that China's duties will last long. If Canadian canola is blocked for China for long, prices would need to drop significantly further, traders said.

• On Wednesday Canada's agriculture and international trade ministers met with Canada's canola industry and farmers.

• Chicago Board of Trade soyoil futures BOv1 rose 0.56% on continued momentum from yesterday's USDA finding of a substantially smaller U.S. soybeans planted area than expected.

• Euronext rapeseed futures COMc1 rose 1.55%.

• Malaysian palm oil futures FCPOc3 rose 0.90%. POI/

• The Canadian dollar CAD= has been trading in a narrow range for eight sessions. CAD/