Milling Wheat Futures3912639

Description

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.

Market Specifications

Symbol
WA
Pricing Basis
Free on Board points in the Par Region
Currency
Canadian dollars
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 (CGC).

(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. Daily Price Limits are not applied when there is no Open Interest in any futures contract month or options series.
Speculative Position Limit
500 contracts in delivery month
MIC Code
IFCA
Clearing Venue
ICCA

Trading Hours

CityTradingPre-Open
New York8:00 PM - 2:15 PM*
20:00 - 14:15
7:30 PM
19:30
London1:00 AM - 7:15 PM
01:00 - 19:15
12:30 AM
00:30
Singapore8:00 AM - 2:15 AM*
08:00 - 02:15
7:30 AM
07:30

*Next Day

Codes

Clearing Admin Name
Milling Wheat
Physical
WA
Logical
WA
GMI (FC)
R&N A.C.N.