Grain Market Update - Canola (June 2013)

The following graph shows the movement in WCE November 2013 Canola Futures and the domestic canola price delivered port. Canola prices have strengthened of late and are currently at their highest level since January. The recent rise may present some selling opportunities, however, this early in the season production risk remains high. As world crop forecasts and weather conditions fluctuate, canola prices are likely to be volatile in the short term.

Currently the WCE Futures price is A$575/t equivalent and the domestic price delivered port is A$570/t, reflecting a negative basis of a $5/t.