Canola Futures251
ICE Futures U.S.
Canola Futures
Description
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 the par delivery region in Saskatchewan.
Market Specifications
- Trading Screen Product Name
- Canola Futures
- Trading Screen Hub Name
- ICUS
- Contract Symbol
- RS
- Currency
- Canadian dollars.
- Delivery Month
- January, March, May, July, November.
- Deliverable Specifications
- Contract deliverable grades shall be based on primary elevator grade standards as established by the Canadian Grain Commission (CGC).
Non-commercially clean Canadian canola with maximum dockage of 8%; all other specifications to meet No. 1 Canada canola at par; or Deliverable at $5.00/net tonne premium: commercially clean No. 1 Canada canola; or Deliverable at $8.00/net tonne discount: commercially clean No. 2 Canada canola; or Deliverable at $13.00/net tonne discount: non-commercially clean Canadian canola, with maximum dockage of 8%; all other specifications to meet No. 2 Canada canola. Varieties derived from GMOs are deliverable - Delivery Locations
- Par: Par area in Saskatchewan.
Central West: Non-par locations in Saskatchewan at $2.00/tonne premium.
Eastern: Non-par locations in Manitoba at $2.00/tonne discount.
Western: Non-par locations in Alberta (excluding the Peace River District of Alberta) at $6.00/tonne premium.
Peace River: Non-par locations in Alberta and British Columbia known as the Peace River District at $2.00/tonne premium.
Delivery Regions Map: Click here to see Canola Map
For Fees Related to the Delivery/Shipment Process click here. - Contract Size
- 1 contract = 20 tonnes.
- Trade Match Algorithm
- First-in-First-out (FIFO).
- First Notice Day
- One Trading Day prior to the first delivery day.
- Delivery Date
- First Trading Day of the delivery month.
- Last Trading Day
- Trading Day preceding the fifteenth calendar day of the delivery month.
- Last Notice Day
- First Trading Day after the last Trading Day of the delivery contract.
- Minimum Price Fluctuation
- $0.10/tonne ($2.00/contract).
- Daily Price Limit
- $45.00 / tonne above or below previous settlement. See ICE Futures U.S. Rule 12.02 for details on Expanded Daily Price Limits
- Speculative Position Limit
- 3,000 contracts (In spot month only - see ICE Futures U.S. Rules for details)
- Markers
- TAS (Trade at Settlement)
- MIC Code
- IFUS
- Clearing Venues
- ICUS
Related Products
Trading Hours
| City | Trading | Pre-Open |
|---|---|---|
| NEW YORK | 8:00 PM - 2:20 PM* 20:00 - 14:20 | 7:30 PM 19:30 |
| LONDON | 1:00 AM - 7:20 PM 01:00 - 19:20 | 12:30 AM 00:30 |
| SINGAPORE | 9:00 AM - 3:20 AM* 09:00 - 03:20 | 8:30 AM 08:30 |
*Next Day
In addition to the Pre-Open start time shown above, there will be a Post-Close Pre-Open order entry session from 2:50 pm to 6:00 pm NY time on the prior Exchange business day.
Codes
- Clearing Admin Name
- Canola US
- Physical
- RS
- Logical
- RS
- GMI (FC)
- RS
- ION A.C.N.
- Symbol Code
- RS