Fertilizer Swaps: UREA, DAP and UAN
 

CBOT Fertilizer Swaps

The Clear Choice for Managing Risk in the Volatile Fertilizer Markets

Fertilizer swaps offer new risk transfer and price management tools for the increasingly volatile global fertilizer markets. These four contracts – for urea, urea ammonium nitrate (UAN) and diammonium phosphate (DAP) – also provide:

  • Counterparty risk mitigation through CME Clearing
  • Flexibility to trade off-exchange and negotiate own prices
  • Immediate access to 10,000+ potential trading partners on CME ClearPort
  • Contract sized to suit a range of customer needs
  • Competitive margin requirements

Product Slate

NEW Urea (Prilled) FOB Yuzhny Swaps
NEW Urea (Granular) FOB Egypt Swaps
Urea (Granular) FOB US Gulf Coast Swaps
DAP FOB Tampa Swaps
DAP FOB NOLA Swaps
UAN FOB NOLA Swaps
View Product Table

Key facts and features

  • CBOT-listed to facilitate agricultural market access
  • Offers a central source of price discovery
  • Answers demand for tools to manage rising volatility
  • Financially settled, separating price risk from supply
 

 

About CME ClearPort

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In London

Jeffry Kuijpers
+44 20 7796 7108
Jeffry.Kuijpers@cmegroup.com

Contract Specifications

Description Urea (Granular) FOB US Gulf Swaps
UAN FOB NOLA Swaps
DAP FOB Tampa Swaps
DAP FOB NOLA Swaps
NEW Urea (Prilled) FOB Yuzhny Swaps
NEW Urea (Granular) FOB Egypt Swaps
Symbols Urea US Gulf-UFN
UAN-UFU
DAP Tampa-DFT
DAP NOLA-DFL
Urea Yuzhny Swaps-UFZ
Urea Egypt Swaps-UFG
Contract Unit 100 tons:
Short tons- Urea US Gulf, UAN, DAP NOLA
Metric tons-DAP FOB Tampa,Urea Yuzhny, Urea Egypt
Price Quotation US Dollars per ton
Minimum Fluctuation $0.25 ($25 per contract)
Trading Hours (Eastern Time) CME ClearPort: SUN-FRI 18:00-17:15 with a 45 minute break each day beginning at 17:15
Open Outcry: MON-FRI- 09:00-14:30
Final Settlement Based on the arithmetic average of midpoint price assessments published weekly by both ICIS and Profercy during the contract month
Termination of Trading Last Thursday of the contract month or if that day is not a business day, on the preceding business day
Contract Months 12 consecutive calendar months
 
 
 
 
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