Grain Market Update – Canola (May 2014)

The following graph shows the movement in WCE November 2014 Canola Futures and the domestic canola price delivered port. Like wheat, there was a lift in the domestic price during early March. However in comparision to historical prices, the domestic canola price has not been as strong as wheat. Hence there has been less interest in forward sales.

Currently the WCE November 2014 Canola Futures price is A$482/t equivalent and the domestic price delivered port is $526/t, reflecting a positive basis of A$44/tonne.