Grain Market Update - Canola (April 2015)

The following graph shows the movement in ICE November 2015 Canola Futures and the domestic canola price delivered port. The graph shows that the ICE Canola futures price has remained stable for the period. However since Mid March the basis has strengthened slightly.  In contrast to wheat, the canola price has been consistently below long term historical pricing, with the domestic price delivered port being approximately $15/tonne below the decile 8 price.

Currently the ICE Futures price is A$472/t equivalent and the domestic price delivered port is $495/t, reflecting a positive basis of A$23/tonne.