What Are Canola Oil Futures?
There is not significant interest from investors in exposure to canola oil, but those that do wish to bet on prices can utilize futures contracts to do so. The canola futures contract is the world benchmark for canola trading. The contract prices physical delivery of canola seed free-on-board value in the par delivery region. Canola futures are traded on the ICE under the symbol RS, and contract deliverable grades are based on primary elevator grade standards as established by the Canadian Grain Commission (CGC). One canola contract represents 20 tonnes. Contract months include January, March, May, July, and November.