Saskatchewan canola prices, futures and basis
Saskatchewan canola prices are a cash number, not a futures print. ICE canola futures, symbol RS, are the benchmark, priced in Canadian dollars per tonne for delivery in the par region of Saskatchewan. The bid at the elevator is that futures price plus or minus basis, then adjusted for grade, dockage and the delivery month the buyer is using.
PDQ, owned by the Alberta Wheat Commission and published by Grainews, reported 1 Canada canola averages on 1 October 2026 of $742.41 in northwest Saskatchewan, $753.19 in the southwest, $745.30 in the northeast and $753.18 in the southeast. The same morning, November ICE canola was quoted at $815.30, down $8.40, in a Dow Jones report of the 10:06 a.m. ET screen. That was a morning quote, not the settlement. The gap between the screen and a Saskatchewan cash bid was still wide.
Basis is local. A southeast bid can sit ten dollars a tonne away from a northwest bid on the same day, and neither one is your driveway. This page is the standing reference for the Klarenbach Grain Report canola notes: futures structure, the Saskatchewan cash index, and the basis path. The chart walk-through stays in the Premium note.
Saskatchewan canola cash averages, 1 October 2026
Canadian dollars per tonne. 1 Canada canola. Source: PDQ via Grainews. These are regional averages of posted bids, not a bid for your station.
Region | 1 Canada canola |
|---|---|
Northwest Saskatchewan | 742.41 |
Southwest Saskatchewan | 753.19 |
Northeast Saskatchewan | 745.30 |
Southeast Saskatchewan | 753.18 |
November ICE canola, morning of 1 October 2026: 815.30, down 8.40. Source: Dow Jones / Glacier FarmMedia, 10:06 a.m. ET. Not a settlement.
Frequently asked questions
What is Saskatchewan canola basis?
Basis is the local cash bid minus the ICE canola futures price for the delivery month the elevator is using. It moves with freight, crusher demand, grade and how full the system is. A provincial average hides that.
Why is my canola bid different from the PDQ average?
PDQ reports an average of posted bids in a region, in Canadian dollars per tonne. Your bid depends on the company, the station, the delivery window and grade. Check more than one buyer.
Where is the current Klarenbach canola call?
The chart path, targets and invalidation sit in the Premium canola note. This page keeps the definition, the dated cash table and the link to that note. Start with the technical analysis guide if you want the method behind the call.
