date:May 30, 2013
delivery are around C$0 to -C$15, that is par with to C$15 under November futures. When referring to basis, it is important to always know which futures month is being referred to. Each buyer will not necessarily reference the same futures month for their basis quote for a specific delivery date.
To analyze basis, one needs to know some basis history for that commodity. For canola, basis levels range from a weak minus C$50 (or cash price C$50/tonne discount to a futures price) to a strong plus