ICE Feed Wheat

From MarketsWiki

The ICE Feed Wheat contract is an electronically traded agricultural product with physical delivery. ICE's futures and options on futures contracts for ICE Western Barley, ICE Canola and ICE Feed Wheat transitioned from the WCE trading platform to the ICE Trading Platform on Dec. 10, 2007.^[1]

Uses

There are two sources of feed wheat. A cultivar can be licensed as a feed grain or feed grain can arise as a result of down grading. With regard to other classes of wheat, feed wheat arises when the percentage of other classes or non-registered varieties exceeds the tolerance specified for the lowest scheduled grade.^[2]

Data Quotes

ICE offers data quotes on a subscription basis.^[3]

Feed Wheat futures
Exchange	ICE
Settlement	Physically delivered
Trade Unit	20 tonnes of any one deliverable grade
Point Value	Need point value!
Tick Value	0.10 CAD/tonne (2.00 CAD /contract)
Contract Months	Mar, May, Jul, Oct, Dec in 11 consecutive contract month delivery cycle. Options available on the first 6 futures contract months except when in delivery.
Last Trading Day	On the business day prior to the 15th calendar day of the contract month. Expiration time on LTD is same as regular.
Note: This contract is electronic ONLY -- no open outcry
	No Open Outcry	Electronic
Trading Hours	N/A	Pre-open:7 p.m. Open:8 p.m. Pre-close: 1 p.m. Settlement:1:14 p.m. Close:1:15 p.m. All times in Central Time (CT)
Ticker Symbol	N/A	WW
Price Limits	N/A	Limits Reasonability Limit (Dynamic Price Limits): 50 ticks (5.00 CAD)/ Daily Price Limit is 100 ticks (10.00 CAD).

References

1. ↑ IntercontinentalExchange Announces Successful Transition of WCE Products to ICE Trading Platform. WSJ.com. Retrieved on January 14, 2008.
2. ↑ Wheat Utilization. Alberta Agriculture and Food. Retrieved on January 18, 2008.
3. ↑ The most valuable commodity is information. ICE. Retrieved on January 14, 2008.