WCE announced that Tuesday June 26, 2001 will be the launch date for the canola meal futures contract; trading will commence with the Oct 01 contract.
There have been minor changes to the contract specifications that were previously announced that include the following:
- 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 inclusionof southeastern Manitoba in the Southern Region; and
- the pricing basis has been revised to reflect free on board railcar values, and at the buyer's option, free on board truck for a US$3.00/tonne premium.
These amendments to the canola meal futures contract are subject to approval by the Manitoba Securities Commission (MSC). 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. Reference should be made to the WCE General Bylaw and Rules for complete and current details on the canola meal futures contract.
