Fertilizer Swaps: UREA, DAP and UAN

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 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
  • Contract sized to suit a range of customer needs
  • Competitive margin requirements

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

Fertilizer Product Slate

Clearing Globex Floor ClearPort Product Name Exchange Product Group Subgroup Category Subcategory Cleared As Volume Open Interest
UME UME - UME Urea (Granular) FOB Middle East Futures CBOT Agriculture Fertilizer - - Futures 0 1,750
UFN - - UFN Urea (Granular) FOB US Gulf Swaps CBOT Agriculture Fertilizer - - Cleared Swaps 30 1,570
UFU - - UFU UAN FOB NOLA Swaps CBOT Agriculture Fertilizer - - Cleared Swaps 0 720
DFL - - DFL DAP FOB NOLA Swaps CBOT Agriculture Fertilizer - - Cleared Swaps 0 105
UFG - - UFG Urea FOB Egypt Swaps CBOT Agriculture Fertilizer - - Cleared Swaps 0 50
Trade Date: 25 Mar 2019 | FINAL

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