Canola Futures Trading - Get current Canola futures prices, quotes, historical charts, cme Canola futures, current news and futures contract specifications.
Disclaimer: This material is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
|Contract Specification||Canola Futures|
|ICE Product Symbol (Electronic Trading)||KE|
|Open Outcry Product Symbol (Trading Floor)||KW|
|Contract Size||Each futures contract shall be for 20 tonnes of canola at par.|
|Price Quotation||Bids, offers and trades shall be in Canadian dollars. Cents per metric tonne of canola|
|Venue||ICE, Open Outcry|
|ICE Hours||Electronic: 6:00 p.m. to 7:15 a.m. Sunday through Friday; 9:30 a.m. to 1:15 p.m. Monday through Friday|
|Open Outcry Hours||9:30 am - 1:15 pm Central Time, Monday - Friday|
|Minimum Fluctuation||The minimum price fluctuation shall be ten (10) cents per tonne, except for Cabinet Trades|
|Daily Price Limits||
1. Trading is prohibited during any Trading Day in canola futures contracts at a price which exceeds the settlement price of the previous Trading Day session by an amount higher or lower than Thirty dollars Cdn. ($30.00 Cdn.) per tonne.
2. Provided that in the case of trading in a contract that is eligible for delivery in that month, there shall be no daily limit on price movement on the last Trading Day.
3. Provided further that, under certain market conditions, system- priced legs of spread trades may be priced outside the aforementioned Daily Limits.
If the settlement price of any two (2) contract months in the Canola futures contract is at the regular daily limits, the limits shall be expanded on the following day to Forty Five dollars Cdn. ($45 ) per tonne.
If, while the daily limits are expanded to $45 per tonne, the settlement price of any two (2) contract months in the Canola futures contract is at the expanded limit, the limits shall be further expanded on the following day to Sixty dollars Cdn ($60) per tonne.
If price limits are expanded to either $45 or $60, and no contract month settles at the expanded limit that day, the limits shall move to the next-lowest level the following day.
The settlement price shall be determined in the following manner:
a. Immediately following the closing bell, all brokers and traders in the pit shall report to the pit reporter and the Wheat Pit Committee all outright trades, bids and offers and all spread trades, bids and offers made in the closing period that are relevant in determining settlement prices in accordance with Sections (b), (c) & (d) below.
b. The settlement price of the lead contract month (determined by the Wheat Pit Committee based on criteria such as volume, open interest and historical experience) shall be determined by the weighted average method of the trades in the closing period as reflected in the information reported to the pit reporter and Committee in accordance with subpart "a" of this Rule.
c. The remaining contract months shall be settled based on spread price relationships, considering spread trades reported during the close. If individual spreads trade at multiple prices during the close, the Committee shall use the weighted average of spread prices in determining the settlement. The lead contract month settlement price shall serve as the initial spread relationship basing point for adjacent contract months, whose settlement can then be used in chronology to determine deferred month settlements.
d. If no spreads involving a particular contract month traded during the close, the Committee shall take into consideration other market information available to the Committee that is pertinent to such contract month, including but not limited to, spread bids and offers, the latest quoted spread trade, the latest outright trades, bids or offers and the settlement price differentials that existed on the previous day in order to determine a settlement price that most accurately reflects the relationship between such month and surrounding contract months.
e. If any settlement price is not consistent with market information known to the Wheat Pit Committee supervising the closing, or if trading is terminated without a closing period, then the Committee may establish a settlement price at a level consistent with such market information and shall cause to be prepared a written record setting forth the basis for such settlement price.
Note: It is possible that the settlement prices established as a result of spread price relationships could result in settlement prices that violate either open outright contract month or spread orders. No such orders shall be elected and brokers shall not be held liable on orders violated as a result of such settlement price procedure.
|Last Trading Day||
Trading shall cease on the Trading Day preceding the 15 calendar day of the delivery month.
January, March, May, July, November.
Delivery against canola futures contracts shall be done in accordance with the following;
a.) Delivery against canola futures contracts shall be initiated at the option of the seller who holds an existing short futures position by presentation of a Tender Notice to the Clearinghouse by 2:00 p.m. Central Time on the day prior to delivery. Such presentation of a Tender Notice can be made from one (1) Trading Day prior to the first Trading Day of the delivery month, up to and including 2:00 p.m. on the first Trading Day after the last Trading Day of the delivery contract.
b.) after 2:00 p.m. on the first Trading Day after the last Trading Day of the delivery contract, all outstanding short positions will automatically be tendered for delivery by the Clearinghouse.
On delivery day: the Exchange will notify the Clearing Participant for the buyer, of the monies owing for the delivery, which notice shall be provided by 12:00 noon;
On delivery day: the Clearing Participant for the buyer will provide the Clearinghouse with the monies for the delivery, by wire transfer, no later than 2:00 p.m.;
On delivery day: the Clearinghouse will provide the monies to the seller no later than 4:00 p.m.
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of ICE.|