Grain Market Update - Canola (November 2015)

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.