January broke through $600!
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Keep an eye on the basis for an indication..
2008: May futures hit 769.90, meanwhile cash prices were quoted on Feb 27 at 630.49. A basis of -139.41
2013: July futures hit 650.80, meanwhile cash prices were quoted on May 22 at 653.44. A basis of +2.64
Canola values were very good for much of 2012 as well because of the lower yields expected that year and world oilseed demand/shortage
Two very different years but futures were very high each year.
2008 Financial crunch
2013 Oilseed supply crunch
basis behaving more like 2013
Export values for the years mentioned:
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