ATLANTA, GEORGIA, U.S. — IntercontinentalExchange (ICE) announced on April 12 that it will introduce five new U.S. grain and oilseed contracts on ICE Futures U.S. pending review by the Commodity Futures Trading Commission. These contracts join ICE's slate of agricultural futures and options contracts including sugar, cotton, coffee, cocoa, orange juice, Canadian wheat, barley and canola.
"We are pleased to expand our suite of agricultural contracts based on customer demand and their desire and commitment to trade these instruments on ICE," said Ben Jackson, chief operating officer of ICE Futures U.S. "These contracts round out ICE's U.S. and Canadian agricultural products. The new grain and oilseed contracts, coupled with our widely-distributed, proven electronic platform, offer customers more alternatives for execution, and the flexibility to select the method that best meets their needs."
Subject to regulatory review, the following futures contracts are slated to be available for the trade date of May 14 and options for the trade date of May 15:
- U.S. Corn
- U.S. Wheat
- U.S. Soybeans
- U.S. Soybean Meal
- U.S. Soybean Oil
The contracts will be listed on ICE Futures U.S., which features sub-millisecond execution speeds, and cleared at ICE Clear U.S. The contracts will be cash-settled with daily settlement based on the CBOT settlement price.
Contract specifications and additional information can be found at http://www.theice.com/US_grains