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Canadian spot canola basis weakened through late January, with cash bids falling sharply in Alberta and Saskatchewan regions as buyers showed waning interest in front-end deliveries. New-crop November basis strengthened, and May delivery bids ranged from $5.25 to $26.10 per tonne under the May futures contract.
Weaker nearby basis signals softer near-term demand for canola at Prairie elevators, while firmer new-crop basis points to tighter forward supply. Feed buyers should watch the basis curve when timing purchases.
dtnpf.comCliff JamiesonFeb 1, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
