canola, how high will it go

[charliep]

I note the July closed yesterday at $433.90/tonne. Will see what happens today but yesterday, you could have had $9.50/bu for May/June delivery with a $16/tonne basis. To achieve the magic $10/bu across the prairies, you will have to have futures over $460/tonne some time, a rally of $45 on the Jan or $26 on the July (assuming the $16 basis).