ICE Canada canola futures rose on Friday to their fourth straight weekly gain, helped by short-covering. Funds now hold only a small short position, and traders said they will watch next week to see if they start a long position. May canola traded above most key moving averages. May canola gained $5 to $461.10 per tonne. Posted 2.4 percent weekly gain. July was most active month, climbing $5.10 to $470.10 per tonne. July-November spread narrowed to a November premium of $16.60.