Canola Basis levels?

[furrowtickler]

What are current basis levels out there?
ADM is currently at 0 and will most likely be in positive territory soon. Deliveries have stalled after the push of fall tough/dried canola is almost done and the good canola is staying in the bins for now.
It may be time to lock in a basis and wait till may/june for a rise in futures. This worked very well for us in Oct - then sold in Dec for $10/bus.
What are others thinking?

[Steve_Winkler]

Locked in some basis about a month ago, 3 under. March price was $9.32/bu when I signed up. Have been watching canola slide down since, to about $8.30 . It was up today some so hopefully it has hit bottom and bouncing back up. Got unitl the 25th of Feb to price or eat it and roll to May. Spread isn't too harsh, $5/tonne. Sure makes the $10 stuff look good.... I will never learn.

[Southpaw]

Why not try Basis Levels in Western Manitoba. Pioneer Grain is now -$30.00 under May, used to be -$42.00 under Jan. or maybe you like New Crop at -$47.00 under Nov. for Sept delivery.

[P-ha]

Yah, I hear ya! I'm kinda thinkin the same thing for some nexera that has to be sold this crop year and has to go to a certain elevator.(has not been competative) I feel the same way now might be the right time to do it or maybe in a month from now. hard to say. I am always hesatent to do basis without futures, cause I've been bured so much with it in the past. Now what I like to do is price some out on the basis when Im locking it in. This way over the next couple of years i will hopefully learn something. So far I still have a bad taste in my mouth