The Milling Wheat contract prices physical delivery of Canada Western Red Spring (CWRS) wheat free-on-board at elevators in Eastern Saskatchewan, with additional delivery points across the Canadian prairies.
|Pricing Basis||Free on Board points in the Par Region|
|Delivery Months||March, May, July, October, December|
|Deliverable Specifications||Contract deliverable grades shall be based on primary elevator
grade standards as established by the Canadian Grain Commission
(1) Non-commercially clean Canadian wheat with a minimum of 13.0% protein, a maximum of 2.0 ppm vomitoxin, and a maximum dockage of 1% (dockage deductable to CGC standards), all other specifications to meet No. 1 or No. 2 Canada Western Red Spring Wheat at par; or
(2) Non-commercially clean Canadian wheat with a minimum of 13.5% protein, a maximum 2.0 ppm vomitoxin, and a maximum dockage of 1% (dockage deductible to CGC standards), all other specifications to meet No. 1 or No. 2 Canada Western Red Spring Wheat at a premium of $5.00 per net tonne..
|Delivery Points||Par - Par area in Eastern Saskatchewan, East of Saskatoon,
and may also include locations in Manitoba that are located near
the Manitoba-Saskatchewan border.
Southern Manitoba - Locations in Manitoba, south of Dauphin, and may also include locations in Saskatchewan that are located near the Manitoba-Saskatchewan border, at a $2.00/tonne premium.
Northwestern Manitoba – Locations in the Dauphin-Roblin-Swan River area of Manitoba at a $2.00/tonne discount.
Western Saskatchewan – Locations in Western Saskatchewan, and may also include locations in Alberta that are located near the Saskatchewan-Alberta border, at a $4.00/tonne premium.
Alberta – Locations in Central and Southern Alberta at a $8.00/tonne premium.
Peace River – Locations in the Peace River region of Alberta and B.C. at a $4.00/tonne premium.
|Contract Size||1 contract = 100 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.|
|Minimum Price Flux||$0.10/tonne ($10.00 per contract)|
|Daily Price Limit||$20.00/tonne above or below previous settlement, expandable to $30 and then to $40.|
|Reasonability Limit||50 ticks ($5.00)|
|Speculative Position Limit||500 contracts in delivery month|
Clearing Admin NameMilling Wheat