The canola futures contract is the world benchmark for canola trading. The contract prices physical delivery of canola seed free-on-board trucks or rail cars in the par delivery region in Central Saskatchewan.
|Pricing Basis||Free on Board value at points in the Par region.|
|Delivery Months||January, March, May, July, November.|
|Deliverable Specifications||Contract deliverable grades shall be based on primary elevator grade standards as established by the Canadian Grain Commission (CGC).
Non-commercially clean Canadian canola with maximum dockage of 8%; all other specifications to meet No. 1 Canada canola at par; or Deliverable at $5.00/net tonne premium: commercially clean No. 1 Canada canola; or Deliverable at $8.00/net tonne discount: commercially clean No. 2 Canada canola; or Deliverable at $13.00/net tonne discount: non-commercially clean Canadian canola, with maximum dockage of 8%; all other specifications to meet No. 2 Canada canola. Varieties derived from GMOs are deliverable
|Delivery Points||Par: Par area in Saskatchewan.
Central East: Non-par locations in Saskatchewan at $0.00/tonne discount.
Central West: Non-par locations in Saskatchewan at $2.00/tonne premium.
Eastern: Non-par locations in Manitoba at $2.00/tonne discount.
Western: Non-par locations in Alberta (excluding the Peace River District of Alberta) at $6.00/tonne premium.
Peace River: Non-par locations in Alberta and British Columbia known as the Peace River District at $6.00/tonne premium
|Delivery Regions Map||Click here to see Canola Map|
|Contract Size||1 contract = 20 tonnes.|
|Trade Match Algorithm||First-in-First-out (FIFO).|
|First Notice Day||One Trading Day prior to the first delivery day.|
|First Delivery Day||First Trading Day of the delivery month.|
|Last Trading Day||Trading Day preceding the fifteenth calendar day of the delivery month.|
|Final Notice Day||First Trading Day after the last Trading Day of the delivery contract.|
|Minimum Price Flux||$0.10/tonne ($2.00/contract).|
|Daily Price Limit||$30.00/tonne above or below previous settlement. See ICE Futures Canada Rule 15 for details on Expanded Daily Price Limits|
|Reasonability Limit||60 ticks ($6.00)|
|Speculative Position Limit||2,000 contracts (In spot month only - see ICE Futures Canada Rules for details)|
Clearing Admin NameCanola