One of the most significant changes to the contract is the move to a more defined pricing point based on net tonnes free-on-board value at Par region locations with no allowances for the inclusion of foreign material.
The revised field pea contract defines 7 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.
"Given the increasingly more prominent position of field peas in the Canadian commodity marketplace, access to pricing across an extended forward time period with field pea futures contracts should create significant benefits to the marketplace," says Bruce Love, WCE Director of Marketing.
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 revised field pea 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.
