WINNIPEG – The Winnipeg Commodity Exchange will not be launching its new feed pea futures contract on Aug. 1.
The exchange wants to wait until the industry finalizes grading standards and techniques.
“Peas are an odd duck. It’s very difficult to assess foreign material consistently,” said John DePape, spokesperson for the exchange.
DePape said the exchange did not realize the industry would take so long to finalize standards. It wants to be sure its contract will work for the industry.
“The exchange did not want to list a contract prematurely, and risk discovering an inappropriate price,” DePape wrote in a press release.
“The potential would have existed to introduce a negative bias into the cash market.”
