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The average Prairie canola basis was unchanged at $31.17/mt under November futures, weaker than the prior year's $27.52 and the three-year average of $28.30. Vancouver cash basis weakened $5 to $25/mt over November, and harvest-time elevators are quoting wide discounts.
Weak cash basis reflects slack export urgency, which pressures canola cash bids even as production uncertainty from heat and drought persists.
dtnpf.comCliff JamiesonAug 13, 2018Not 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.
