ICE canola futures settle higher on China trade hopes

Oct 14 (Reuters) - ICE canola futures ended up on Tuesday on high hopes for thawing trade relations between Canada and China, traders said.

• Investor optimism was fueled during Canada's Thanksgiving holiday weekend as China's ambassador to Canada said China would remove its levies on Canadian products if Canada removed its tariffs on Chinese electric vehicles.

• Bargain buying also added support after futures fell on Friday, traders said.

• ICE November canola RSX5 settled up $8.20 at $615.60 per metric ton.

• Chicago Board of Trade December soyoil BOZ25 fell 0.03 U.S. cents to end at 50.57 U.S. cents per pound.

• Malaysian palm oil futures FCPOc3 ended up 0.13%. POI/

• The Canadian dollar CAD= fell against its U.S. counterpart CAD/.