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WCE Flax Going International
WINNIPEG - Mar 26/03 - SNS -- The Winnipeg Commodity Exchange (WCE) is once again trying to inject an international into its contracts in hopes of attracting more trading interest.
Several years ago this was tried with feed peas, with the initial contract offering priced in U.S. dollars on a delivered main European ports basis. That contract failed and neither fed nor field peas are traded on the flow of the WCE futures exchange.
The latest effort is expected to see the flaxseed contract trade in U.S. currency in hopes of attracting hedgers and speculators from the United States and other countries. By also denominating the contract in U.S. dollars, the WCE removes a serious impediment to American participation in the market.
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