The following graph shows the movement in ICE November 2015 Canola Futures and the domestic canola price delivered port.
Although prices eased during August and September, there has been a significant strengthening in the lead up to harvest. This has been largely due to domestic demand with the basis peaking for the year at $66/tonne during late October. As with wheat, there has been ample opportunity to make sales at well above Decile 7 prices.
Currently the ICE Futures price is A$495/t equivalent and the domestic price delivered port is $553/t, reflecting a positive basis of A$58/tonne.