Canola Futures251


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.

Market Specifications

Contract Symbol
Pricing Basis
Free on Board value at points in the Par region.
Canadian dollars.
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
(*Note - $2.00/tonne premium effective November 1, 2015)
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
Speculative Position Limit
2,000 contracts (In spot month only - see ICE Futures Canada Rules for details)
MIC Code
Clearing Venue

Trading Hours

New York8:00 PM - 2:15 PM*
20:00 - 14:15
7:30 PM
London1:00 AM - 7:15 PM
01:00 - 19:15
12:30 AM
Singapore8:00 AM - 2:15 AM*
08:00 - 02:15
7:30 AM

*Next Day


Clearing Admin Name
R&N A.C.N.