Canada: Winnipeg Commodity Exchange to launch revised western barley contract

Winnipeg Commodity Exchange Inc. has received regulatory approvals and will launch trading in a revised western barley futures contract on Monday, July 24, 2006 commencing with the October 2007 futures contract, Winnipeg Commodity exchange released July 20.

The contract design of the revised western barley futures contract will not only serve as an improved risk management tool for the Canadian domestic feed barley industry; it will also meet the needs of Canada's export feed barley markets when a dual marketing system for barley is implemented in Canada.

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 tonne (changed from previously announced CA$10.00 per tonne).

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