what canola basis is working these days?

[farmaholic]

SF3, so if you had a $0.00 basis is it now minus $10.00 basis or a positive ten dollars? According to the contract you signed, can they arbitrarily flip you to Jan when there is time left in Nov?

[farmaholic]

Nov/Jan spread $13.90. SF3 did you want the extra time? It may work in your favor?

[SASKFARMER3]

They have the product. We tried something new this year. Ok like we use to do with peas before the elevators got into the business.
Fill 10000 hoppers bins with early canola set 10 in auger up and on back hauls let trucks stop and load to the crushers. Basically turn your bins like the elevators do. I wanted a better price they rolled it. Time will tell. So far it looks ok. Will do this again next year.

[farmaholic]

So are you out the ten bucks and the spread right now? Near by has the $13.90 premium over Jan.

ps, Hope you can get at that oats today!!

[SASKFARMER3]

Sorry my basis lost the 10 dollars a ton so a 20 off is now 10 off.

[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.