The Board approved minor changes to the contract specifications that include:
- protein content has been increased from 34% to 36%;
- the border between the Par and Southern Regions has been adjusted in such a way as to reflect the inclusion of southeastern Manitoba in the Southern Region; and
- the pricing basis has been revised to reflect free on board railcar values, and at the buyers' option, free on board truck for a US$3.00/tonne premium.
The WCE Board of Governors also approved the listed delivery capacity for the contract. All the major canola processors in Canada have registered for delivery against the contract.
The price discovery and risk management offered by the WCE canola meal futures contract, which compliments the successful WCE canola futures contract, will be of particular interest to canola processors, feed mills and the dairy/livestock industry.
For more information on this new contract and other WCE derivative products please visit the WCE Website - www.wce.mb.ca. Reference should be made to the WCE General Bylaw and Rules for complete and current details on the canola meal futures contract.
WCE is Canada's only agricultural futures and options exchange. WCE offers futures contracts on canola, canola meal (June 2001), flaxseed, domestic feed wheat, western barley, and field peas. Options contracts are available on canola, flaxseed, feed wheat, and western barley.
