Canada: WCE to launch revised barley futures contracts

The Winnipeg Commodity Exchange (WCE) has received the approval needed to launch a revised western barley futures contract effective July 24, with trade commencing with the October 2007 futures contract, AgReport released July 20.

This western barley futures contract has par pricing in central Saskatchewan. Non-par delivery regions are located in Saskatchewan, Manitoba and Alberta, and in the Peace River District.

The par contract deliverable grade for the revised contract is non-commercially clean barley with all specifications to meet Canadian Grain Commission primary elevator grade standards for No. 1 Canada Western barley. There are also rule provisions for delivery of barley with alternate test weights at set premiums and discounts.

The revised barley contract has the same trading months as the current western barley contract (October, December, March, May and July). The daily price limit on the revised contract is CA$7.50 per metric ton, down from the previously announced CA$10.00 limit.

21 July, 2006