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Urea (Granular) FOB US Gulf Swaps Contract Specs

Product Description Urea (Granular) FOB US Gulf Coast Swaps
Symbols UFN
Venue CME Clearport
Contract Unit 100 short tons
Settlement Procedure Daily Fertilizer Settlement Procedure (PDF)
Final Fertilizer Settlement Procedure (PDF)
Price Quotation U.S. Dollars per ton
Minimum Fluctuation $0.25 ($25 per contract)
Trading Hours
(All times listed are New York Time/ET)
CME ClearPort Sunday - Friday 6:00 p.m. - 5:45 p.m. CT with a 15-minute break each day beginning at 5:45 p.m. CT
Floating Price The Floating price shall be 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
Settlement Procedure Financial
Position Limits Spot Month (in effect as of the open of trading on the last three trading days of the expiring contracts): 250 contracts

All other months: 1,000 contracts

See CBOT Position Limits
Rulebook Chapter 45
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.

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