what canola basis is working these days?

[Klause]

Hopper I had a basis target on canola -20 for Sept to Oct 2015 delivery didn't hit...

[HappyFarmer]

Did some on Wednesday at bunge in Harrowby for 10 dec delivery.

Taking a basis contract right now is a bad deal IMO. Look at the inverse.

[Braveheart]

I don't think taking a basis that is better than average is ever bad. You have at least eliminated basis risk. Ten under to a crusher Dec delivery sounds ok.

The inverse is likely because someone is squeezed rather than near term demand.

[HappyFarmer]

I meant 10/bushel braveheart, not a 10 under basis. They had a flat price special.

[GrahamS]

Was at Harrowby office in the afternoon the day they were offering 10 dollars per bushel. (Last Wednesday I think) Their phones were ringing off the hook with guys trying to book.

[Braveheart]

HappyFarmer, sorry I misunderstood. So if you got $10.00 FOB Harrowby, your basis must have been about $15 over, would that be right? I wouldn't have a problem locking in $15 over on a basis contract.

That basis will make you live up to your name, or you'll have to change it to HappyHappyFarmer.

[HappyFarmer]

LOL, yes sir!

[Hopperbin]

Klause was offered 20 umder based on jan 2016 futures. Dec delivery. I wanted 0 so was checking different options. 23 under for harvest delivery soumds better than binning and takimg 20 dependimg spread.