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Commodity Futures - Milling Wheat

  MILLING WHEAT NO.2 FUTURES
Contract code EBM
Unit of trading Fifty tonnes
Pricing unit/quotation (= price basis) Euro and euro cents per tonne
Origins tenderable European Union
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.

Minimum price movement (tick size and value) 25 euro cents per tonne (€12.50)
Delivery months September, December, March, June such that 12 delivery months are available for trading.
Introduction of new expiry months First trading day following the last trading day.
Wholesale services Against Actuals, Exchange for Swaps
Euronext market Paris
Last trading day 18:30 on the tenth calendar day of the delivery month (if not a business day, then the following business day)
Settlement (Delivery) In an approved silo in Rouen (France) and Dunkirk (France) 
Delivery period Any business day from the last trading day to the end of the specified delivery month.
Exchange Delivery Settlement Price (EDSP) (methodo price) EDSP as a physically delivered contract (please refer to the technical specifications)
Clearing organization LCH SA
Delivery limits 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 website.
Trading hours 10:45 – 18:30 (UTC-1)
Trading platform Universal Trading Platform
Algorithm Central Order Book applies a price-time trading algorithm, with priority given to the first order at the best price.
Last update 28 May 2019

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