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Description

The UK Feed Wheat futures contract is relied upon as the European benchmark for the pricing of physical feed wheat. It is actively traded by cooperatives, merchants, traders, exporters and processors (feed compounders, millers, and starch manufacturers amongst others).

Market Specifications

Trading Screen Product Name

UK Feed Wheat Future

Trading Screen Hub Name

ICEU

Contract Symbol

T

Contract Size

One UK Feed Wheat futures contract

Price Quotation

£ and pence per tonne

Contract Series

January, March, May, July, November, such that ten expiry months are available for trading, subject to the option expiring before the underlying future

Please note that in the case of Feed Wheat Futures and Options contracts, when a July delivery/expiry month expires, this will be replaced by a new November delivery/expiry month and when a November delivery/expiry month expires, this will be replaced by a new July delivery/expiry month.

Minimum Price Fluctuation

5 pence per tonne (£5)

Exercise Procedure

American style

Daily Price Limit

None

Strike Price Intervals

£1 per tonne

Expiration Date

17:28 on the second Thursday of the calendar month immediately preceding the expiry month

MIC Code

IFLX

Clearing Venues

ICEU

Trading Hours

Codes