The enhancements to the flaxseed futures contract are expected to significantly improve the efficiency of the shipment process defined in the contract. These enhancements allow for greater flexibility in the management of product by the firm making delivery. These contract revisions are similar to the recently revised canola, feed wheat and field pea futures contracts and the new canola meal futures contract.
The flaxseed contract will see further enhancements with dockage over 8% to a maximum 15% will be shippable against this contract with discounts prescribed under WCE rules.
The enhanced flaxseed contract will expire on the business day preceding the fifteenth calendar day of the delivery month, with the last delivery day being the second business day after the last day of trade.
WCE Board of Governors also announced that trading in the May contract in flaxseed futures will be suspended pending MSC review of the proposed contract enhancements.
For more information on the recently revised flaxseed futures contract and other WCE 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 futures contract.
WCE is Canada's only agricultural futures and options exchange. WCE offers futures contracts on canola, canola meal, flaxseed, domestic feed wheat, western barley, and field peas. Options contracts are available on canola, flaxseed, feed wheat, and western barley.
