Australian Sorghum Futures

Underlying Commodity Australian Sorghum
ASX 24 Code US
Physical Grade SOR (GTA)
Pricing Point

Brisbane track

Newcastle track
Contract Unit 20 metric tonnes
Quotation Tick Size AUD $0.10 per tonne. Tick value of $2 per contract.
Settlement Months January, March, May, July, September, November
Last Trading Day and Maturity Date The third Thursday of the maturity month, provided this is a trading day.
Trading Hours

Night Session: 5.14pm to 7.00am (For period from second Sunday in March to first Sunday in November) 
Night Session: 5.14pm to 7.30am (For period from first Sunday in November to second Sunday in March) 
Day Session: 11.00am to 4.00pm
Trading ceases at 12pm on Maturity Date
All times are AEST / AEDT*
Settlement Method  Physical delivery 
Delivery Period Begins on the second business day of the contract month and ends at 3pm on the Last Trading Day.
Notice Day Any business day within the Delivery Period on which notice of delivery is given via lodgement of tender documentation with ASX Clearing Corporation.
Settlement Day The business day following the Notice Day.
Settlement Amount The final Settlement Amount is calculated from the settlement price on the Notice Day. This price is adjusted for GTA Location Differentials, shrink, receival fees and GST.
Deliverable Grade

The deliverable grade is Australian origin and is a minimum of GTA Sorghum (SOR) or equivalent as specified by the Grain Trade Australia (GTA) ‘Sorghum Standards’ and tested in accordance with the GTA Receival Standards of the specified Bulk Handling Company. Sorghum delivered can be new or old crop stock.
Approved Warehouses and Delivery Locations

Settlement Months – up to and including July 2013
Australian Sorghum shall be delivered to any Up-country location in Queensland or New South Wales of an Approved Bulk Handler; tributary to Brisbane and/or Newcastle Track markets with rail and road outloading capability.

Settlement Months – September 2013 onward
Australian Sorghum shall be delivered to any up-country location in Queensland or New South Wales of an Approved Bulk Handler; tributary to Brisbane and/or Newcastle Track markets (natural terminal port) with rail and road outloading capability.

* AEDT commences the first Sunday of October and finishes the first Sunday of April

In the case of any discrepancy between this document and the ASX 24 Operating Rules and ASX Clear (Futures) Operating Rules the respective Operating Rules prevail.