How does Cargill figure IMC canola basis?

[poorboy]

I grew some IMC 208RR canola last year for a June delivery. I live east of Calgary and the canola is being loaded onto a truck at my farm and direct shipped somewhere around Edmonton.

I am being quoted a basis level that is equivalent to their regular canola delivered Calgary ATL of between 6 and 8 dollars under the July, BUT then they want to add on the truck freight from my farm to Calgary (which is $8/t). This brings my basis on farm to $14-16/t under the July. Because the canola is being shipped from my farm to the north I am wondering if the basis calculation is correct?

Thanks

[crusher]

My contract was priced at the bin, with basis same as regular canola at ATL Edmonton, with the premium added on after. They may have a different contract around Calgary, check your original contract.

[poorboy]

Crusher,

Was your IMC208 picked up at the bin also?

Some people tell me that the 208 basis is priced at the ATL and deduct freight from your farm, and others tell me that it is basis delivered to the ATL, but they come pick it up for free.

[TOM4CWB]

Poorboy;

Our RR208 contract was at the bin as well... until Jan 04 we couldn't haul it ourselves... but now they will allow producer direct deliveries and paid us trucking to ATL Edmonton.

[crusher]

I haven't received my settlement yet, but I also hauled my own and anticipate receiving a trucking allowance.

[poorboy]

Thanks for the replies!