MILLING WHEAT FUTURES

Milling Wheat Futures

Milling Wheat Futures
Unit of trading

Fifty tonnes

Delivery months

November, January, March and May until May 2015 and then September, December, March and May from September 2015 onwards, such that 12 delivery months are available for trading

Minimum price movement (tick size and value)

25 Euro cents per tonne (€12.50)

Last trading day

18:30 on the tenth calendar day of the delivery month (if not a business day, then the following business day)

Last update
Fri, 07/11/2014
Trading Hours

10:45 – 18:30 Paris time

Trading platform

Universal Trading Platform (UTP)

Full contract specification and related documents
Algorithm

Central Order Book applies a price-time trading algorithm, with priority given to the first order at the best price

Wholesale service

Against Actuals, Exchange for Swaps

Clearing

LCH SA

Exchange contract

17

Notice day/Tender day

The first business day following the last trading day

Origins tenderable

Milling Wheat from any EU origin

Price basis

Euro and euro cents per tonne, in an approved silo in Rouen (France), and addition of Dunkirk (France) approved silo from the September 2015 delivery month

Quality

Sound, fair and merchantable quality of the following standard:
Specific weight 76 kg/hl
Moisture content 15%
Broken grains 4%
Sprouted grains 2%
Impurities 2%
Discounts apply to reflect any difference between the delivered and standard quality, in accordance with Incograin No.23 and the Technical Addendum No.2
Mycotoxins not to exceed, at the time of delivery, the maximum levels specified under EU legislation in force with respect to unprocessed cereals intended for use in food products

Tender period

Any business day from the last trading day to the end of the specified delivery month

Contract Standard: Delivery may be made of Milling Wheat meeting the contract requirements. 

Delivery limits are set by LCH S.A. and are published 80 days before the last trading day and are applicable for 12 days before the last trading day of the delivery month. Please refer to the LCH S.A. notices on the web site:
http://www.lch.com/risk_management/sa/risk_notices/default.asp

All times are Paris times.