ICE Western Barley

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The ICE Western Barley contract is traded through ICE's futures subsidiary ICE Futures Canada, which began as the Winnipeg Commodity Exchange established in 1887. ICE Western Barley futures and options trade by electronic trading.

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

Barley is used for food, fuel and feed. It's the most important crop for feeding livestock. Barley is also used as food for people, and it's used in beverage making and in industrial applications.[2]

Barley was one of the first cereal crops to be domesticated. Archaeologists have found evidence in the Middle East that it was a staple food as long ago as 5,000 BC or earlier. Today it is the world’s most important crop for feeding livestock. Barley is also used as food for people, and it's used in beverage making and in industrial applications.

The ICE Western Barley contract uses non-commercially clean Canadian barley. Canada is one of the largest barley producers in the world, with about 11 million tonnes produced annually. There are more than 50 different varieties of barley grown in Western Canada.[3]

Data Quotes

ICE offers data quotes on a subscription basis.[4]

Contract Specifications

Western Barley futures
Exchange ICE
Settlement Physically delivered
Contract Size 20 tonnes of any one deliverable grade
Pricing Unit Need pricing unit!
Tick Value 0.10 CAD/tonne (2.00 CAD /contract)
Contract Months Mar, May, Jul, Oct, Dec. 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 6:30 pm CT, Open 7:00 pm to 1:15 pm CT Settlement:1:14 p.m. Close:1:15 p.m. All times in Central Time (CT)
Ticker Symbol N/A BW
Price Limits N/A Reasonability Limit (Dynamic Price Limits):80 ticks (8.00 CAD)/ Daily Price Limit is 300 ticks (30.00 CAD).

References

  1. Intercontinental Exchange Announces Successful Transition of WCE Products to ICE Trading Platform. WSJ.com.
  2. Western Barley Growers Association News And Views. WBGA.
  3. About Barley. Alberta Barley Commission.
  4. The most valuable commodity is information. ICE.

ICE Western Barley Contract Specs