The launch of the revised field pea contract will begin as soon as the contract application is approved by the Manitoba Securities Commission. Trading will commence with the October 2001 contract month. The existing contract will be delisted for the October and subsequent months.
Some of the key features of the contract, which differ from the current field pea contract, include pricing based on net tonnes, and in Canadian dollars per tonne.
The revised field pea contract defines regions across western Canada, with changes in premiums and discounts reflective of the underlying cash pea market. A maximum 8% foreign material is deliverable, with all other quality specifications to meet Canadian Grain Commission feed pea grade specifications.
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.
For more information on this contract and other WCE derivative products please visit the WCE Website - www.wce.mb.ca.
