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Contract specifications

Grain futures contract specifications

All exchange traded futures and options have standard contract specifications. With contract specifications, all market participants can trade the contracts with confidence as they know what the contract price represents in terms of the underlying physical grade, the delivery locations and the delivery period. Knowing these factors makes it possible for both the buyer and the seller to negotiate the contract price.

The below table contains the contract specification details for the current ASX grain market contract offering.

Contract Futures Options
NSW wheat  VW Options on VW 
WA wheat WK Options on WK
Eastern Australia feed barley UB Options on UB
Australian sorghum US Options on US
Eastern Australia canola VC Options on VC

Wool futures

The below table contains the contract specification details for ASX wool futures and options.

All exchange traded futures and options have standard contract specifications. Without contract specifications it is impossible for the buyer and the seller to negotiate only the price of the contract. With contract specifications, all market participants can trade the contracts with confidence as they know what the contract price represents in terms of the underlying physical grade or cash settlement index, the delivery locations and the delivery period.

Contract Micron Futures Options
Fine wool 19 FW
Greasy wool 21 GW GWO

Operating Rules

In the case of any discrepancy between the contract specifications listed above and the respective Operating Rules, the Operating Rules prevail.