ICE Canadian canola futures were mostly higher on Friday, rebounding from an earlier 2-1/2 month low on short-covering and bargain buying, traders said. Investors continued to exit long positions in front-month January canola, which finished down $2.60 to $496.80 per ton. Most-active March canola gained 80 cents to settle at $504.00, with the spread between the contracts trading 1,177 times.

Canola on a continuous chart rose 4.3 percent in 2016, the third straight annual gain. Chicago Board of Trade soybeans fell on technical selling but was up for the year.

NYSE Liffe February rapeseed and Malaysian March crude palm oil each were about flat.

The Canadian dollar was trading at $1.3434 to the US dollar, or 74.43 US cents, up from Thursday's close of $1.3508, or 74.03 US cents, according to Thomson Reuters data.

Copyright Reuters, 2017