Management of the former Winnipeg Commodity Exchange are recommending its feed wheat futures contract be pulled from trading.
In a memo Tuesday to exchange participants, ICE Futures Canada management said they will recommend to the Winnipeg exchange’s board of directors that the December 2008 and subsequent feed wheat futures contract months be removed from trading.
With input from the ICE contracts committee, management also recommend that a subcommittee be struck to look at “alternative contract specifications” for feed wheat, to report back to the contracts committee by no later than Sept. 1.
ICE management said their recommendations stem from “current lack of trading activity and open interest” in the feed wheat futures contract, along with “various factors” that influence supply and demand in the cash market for feed wheat.
The board is expected to review these recommendations at an upcoming meeting.