What's everyone thinking about new crop,
new year basis levels? Locally they are
posted at $60-80/mt as far out as you
can see. I booked some Aug canola into
clavet and they still had plenty of room
on that delivery period so canola is
still moving. Even with a heavy carryout
of canola and an average crop you would
think there should be a reprieve in the
basis levels back down to $24-$38 mark,
anything negative should get us back
even narrower. Am I missing something?
new year basis levels? Locally they are
posted at $60-80/mt as far out as you
can see. I booked some Aug canola into
clavet and they still had plenty of room
on that delivery period so canola is
still moving. Even with a heavy carryout
of canola and an average crop you would
think there should be a reprieve in the
basis levels back down to $24-$38 mark,
anything negative should get us back
even narrower. Am I missing something?