Further Changes Contemplated For Winnipeg Commodity Exchange Flaxseed Futures Contract

Winnipeg Commodity Exchange Inc. (WCE) will be examining further changes to its flaxseed futures contract over the next few weeks. In the interim, the December 2004 and March 2005 flaxseed futures contracts have been temporarily de-listed effective immediately. The July and October 2004 flaxseed futures contracts will remain on the board for trading under the current futures contract terms.

The WCE flaxseed futures contract has not traded since February 24, 2004 and the last time delivery was made against the contract was on March 5, 2004.

While there were significant changes made to the contract last year, the enhancements have not attracted the expected market participation.

“The WCE is committed to continuing to provide a hedging tool for the flaxseed industry, as it has been for the past 100 years,” said Will Hill, WCE Senior Vice-President. “We will work with the Exchange’s Oilseed Committee and industry participants to revise the flaxseed futures contract.”

Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada’s only agricultural futures and options exchange and offers futures and options contracts on canola, flaxseed, domestic feed wheat, and western barley. For more information on the Exchange, visit www.wce.ca