ICE canola ends lower, retreating from near four-week high

Oct 16 (Reuters) - ICE canola futures settled lower on Thursday, retreating from early strength on a round of technical selling and profit-taking after the benchmark January contract RSF6 hit its highest level in nearly four weeks, traders said.

• ICE November canola RSX5 settled down $2.80 at $617.60 per metric ton and most-active January canola RSF6 ended down $2.80 at $631.50 a ton, turning lower after a climb to $639, its highest since September 19.

• Despite the lower close in outright futures trade, the November-January spread firmed. November canola RSX5 narrowed its discount to the January RSF6 contract to $10.30 a ton, from $10.50 a day earlier.

• The canola harvest is nearly finished in Canada's prairies. Harvesting was 98% complete in Saskatchewan, according to the province's latest weekly report. GRO/SAS

• Rival global vegetable oil markets were mixed.

• On the Chicago Board of Trade, December soyoil BOZ25 settled up 0.07 U.S. cents, or 0.1%, at 50.87 U.S. cents per pound.

• On Euronext, most-active February rapeseed futures COMG6 fell 0.05% while Malaysian palm oil futures FCPOc3 settled up nearly 1% on Thursday. POI/