The Basics	Producers can lock in a price for wheat at any time during the year, to be delivered during a future delivery period to a specific destination.
How it works	Similar to a Forward Contract, producers are required to call the board between 10:45am and 2:00pm while the grain markets are open and receive a quote from a staff member.  If the price is agreeable a contract will be drawn up that will include: amount of wheat to be delivered, type and quality of wheat to be delivered, price in Canadian dollars that the producer will be paid per tonne and per bushel, the delivery dates and the destination the wheat will be delivered to.  A contract will be printed and sent to the producer.  The producer will have 72 hours to notify the board of any discrepancy in the information on the contract.  If the board is not notified of any discrepancies in the data, this document will be a legally binding contract between the board and the producer.  When the delivery period arrives the producer is responsible to deliver the wheat to the specific destination stated on the contract.  When delivery is made against a Defined Destination Contract a single payment for the full amount less license fees and applicable deductions will be sent to the producers from the board office.  Defined Destination Contracts may not be available for all locations.
Deadlines	Producer's can enter into this type of contract at any time prior to the wheat being delivered.
The Rules	Minimum contract size is 500 bushels or 13.608 tonnes.  Contracts must be in place before the delivery ticket information is submitted to the board office.  Contracting hours are 10:45am to 2:00pm while markets are trading.  Wheat must be delivered to the location stated on the contract.
Pros	Premium pricing and/or cost savings
Cons	No flexibility on delivery location.
Choose this Marketing Alternative When	You know where you are going to deliver your wheat.  You are willing to commit to deliver to a specific location.