This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract.

 

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Marcus Tan

Canola futures are traded on the Winnipeg Commodity Exchange under ticker symbol RS in Canadian dollars per tonne.^[1]

The chart at left shows front-month canola futures prices on the Winnipeg Commodity Exchange (WPG) in Canadian dollars per tonne.

Delivery Dates

Canola futures are delivered every year in January, March, May, July, and November.^[1]

The following is a table with Canola futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Contract Specifications

Contract Size

One Canola futures contract on the Winnipeg Commodity Exchange is 20 tonnes.^[1]

Tick Value

$0.10/tonne ($2.00/contract).^[1]

Daily Price Limit

$45.00/tonne above or below previous settlement.^[1]

Trading Hours

• On the CME Globex electronic platform: 9:00 PM until 2:15 PM, New York Time.^[1]

Last Trading Day

Trading Day preceding the fifteenth calendar day of the delivery month.^[1]

Deliverable Grades

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.^[1]

References

1. ↑ ^{1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7} The Winnipeg Commodity Exchange's contract specification for CANOLA futures