The specified delivery month
February, May, August, November such that ten delivery months are available for trading
25 euro cents per tonne (€12.50)
18:30 on the last business day of the calendar month immediately preceding the delivery month
10.45 - 18.30 Paris time
Dec 2004 Onwards
Universal Trading Platform (UTP)
Central order book applies a price-time trading algorithm, with priority given to the first order at the best price
Against Actuals, Exchange for Swaps
The first business day following the last trading day
Euro and euro cents per tonne FOB barge at one of the following designated ports: Belleville, Metz and Frouard (France) on the Moselle; Bulstringen, Vahldorf and Magdeburg (Germany) on the Mittellandkanal; Wurzburg (Germany) on the Main; and Ghent (Belgium) on the Escaut
rapeseed of double zero variety, of sound, fair and
merchantable quality and of the following standard quality:
Oil content basis 40%
Moisture basis 9%
Impurities basis 2%
The quality of the deliverable merchandise is defined as follows:
moisture content maximum 10%
impurities content maximum 3%
oleic acidity maximum 2%
erucic acid content maximum 2%
glucosinolates content maximum 25 micromoles
Premiums and discounts apply and correspond to the difference
between the delivered and standard quality.
Contract Standard: Assignment of one Rapeseed Futures contract for the expiry month at the exercise price.
Exercise Price Increments: €2.50 per tonne.
Option Exercise: Rapeseed options are ‘American’ style ie may be exercised at anytime prior to expiry.
Clearing: LCH SA.
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.
Five facts about Rapeseed
1) Rapeseed is a bright yellow flowering member of the mustard or cabbage family. It is a mustard crop grown primarily for its seed which yields about 40% oil and can be used as a high-protein animal feed.
2) Since the year 2000, virtually all rapeseed production in the European Union has shifted to rapeseed 00 (double zero), with low content of erucic acid and low content of glucosinolates. The production of rapeseed in the European Union is still ‘conventional’, that is, does not contain genetically-modified organisms (GMOs).
3) Rapeseed is normally processed in two steps:
- Physical pressing of the rapeseed
- Subsequent hexane extraction of the remaining oil in the press-cake
4) Traditional and other uses have been for lamp oils, soap making, high-temperature and lubricating oils, and plastics manufacturing. The shift to rapeseed 00 in the European Union, the low erucic acid content of the resulting rapeseed oil, and its specific fatty acid composition all make it a highly appreciated edible oil. The conventional (non-GMO) nature of European rapeseed production means that European food customers often prefer rapeseed oil produced in Europe over oils of other origins that might be produced from GMOs.
5) Rapeseed oil has also become the primary feedstock for biodiesel in Europe.