ASX futures contracts begin trading
June 01, 2003
by Emily Buckley
SYDNEY, AUSTRALIA — The Australian Stock Exchange Ltd., through its futures exchange subsidiary, has begun trading in feed wheat and barley futures contracts and will launch feed barley futures trading in late May.
The two contract starts followed the launch of the exchange’s milling wheat contract.
The feed wheat contract, like the milling wheat contract, represents 20 tonnes. The feed wheat contract grade is Australia wheat with AWB Bin Grade FED1 or better.
Settlement is by physical delivery to New South Wales up-country locations of "Approved Bulk Handlers."
Specifications for the feed barley contract include physical delivery to up-country locations of Approved Bulk Handlers in Victoria. The contract grade is Australian barley as per NACMA feed barley specifications or better, of Victorian origin.
Contracts for canola and sorghum await final approval.
To obtain more information about the ASX grain futures contracts, please visit the ASX web site at www.asx.com.au/markets/l3/GrainFutures_AM3.shtm.