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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
| Urea (Granular) FOB US Gulf Coast Swaps UAN FOB NOLA Swaps |
DAP FOB Tampa Swaps DAP FOB NOLA Swaps |
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 |
Information |
Contacts |
|---|---|---|
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How to Register |
Industry Links |
In London Jeffry Kuijpers |
Contract Specifications
| Description | Urea (Granular) FOB US Gulf Swaps UAN FOB NOLA Swaps DAP FOB Tampa Swaps DAP FOB NOLA Swaps |
| Symbols | Urea-UFN UAN-UFU DAP Tampa-DFT DAP NOLA-DFL |
| Contract Unit | 100 tons: Short tons- Urea, UAN, DAP NOLA Metric tons-DAP FOB Tampa |
| 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 |
