The contracts would be designed to fill a need not currently being met by existing programs and would provide another tool for hedging the price risk of lumber.
"We are very pleased to announce this joint effort with Crow's to examine the potential for a new non-agricultural product on the Exchange," stated Terry James, chairperson of the WCE New Product Development Committee. "We are looking at products which are relevant to the lumber industry and regionally based."
"Working with WCE on this project has been very exciting," said Ken Tennefoss, General Manager of C.C. Crow Publications. "Crow Publications will begin surveying members of the forest products industry immediately to gather input. Their input will aid in the contract design."
Ben Corn, President and CEO of WCE said, " Winnipeg Commodity Exchange is well positioned to develop commodity-based, non-agricultural derivative products. Our focus right now is to develop a more convenient and more effective way of managing price risk in the lumber industry." Crow's is the premier information source for the forest products industry. Established over seventy-five years ago in Portland, Oregon, it is the oldest market reporter in the nation's softwood industry. Crow's is an issues-oriented company, bringing price reporting and significant concerns of the industry to the awareness of its readers.
Originating in 1887, WCE is a not-for-profit organization and Canada's only agricultural futures and options exchange. WCE offers futures contracts on canola, flaxseed, domestic feed wheat, western barley, oats and field peas. Options contracts are available on canola, flaxseed, feed wheat and western barley.
