12/07/2016 (Reuters) - ICE Canadian canola futures rose on Friday, bouncing back from a four-day losing streak in tandem with a sharp rebound in US soybean futures, traders said. Some crusher buying added to the strength in canola futures. Gains were kept in check by good crop conditions and fund selling. November canola settled $7.70 higher at $470.00 per tonne.

November-January canola spread traded 1,693 times, narrowing by 20 cents before settling at a $6.70 premium to the January contract. Chicago Board of Trade November soybean futures jumped 3.2 percent. NYSE Liffe August rapeseed rose 0.6 percent on Friday and September Malaysian palm oil fell 4.8 percent. The Canadian dollar on Friday weakened against its US counterpart on Friday after data showed the domestic economy unexpectedly shed 700 jobs and US employment growth surged in June.