IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses, announced today that ICE Futures Canada reached a daily volume record of 71,536 contracts in canola futures on February 13, 2014. The previous volume record was 70,817 contracts on December 10, 2013.
The canola futures contract is the world benchmark for canola trading. The contract prices physical delivery of canola seed, free-on-board trucks or rail cars in Central Saskatchewan, Canada.
Canola seed futures began trading on the Winnipeg Commodity Exchange, now known as ICE Futures Canada, in 1963. Futures and options on futures are used by the domestic and global oilseeds industries to price and hedge transactions.
