ICE Coffee Futures Options Trading
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End of Day Report
Monthly Softs Fast Facts
Coffee is one of the world's most popular drinks and is among the world's most important internationally traded commodities.
Coffee trees, or bushes, grow primarily in subtropical climates. Coffee beans are the seeds of cherry-sized berries, the fruit of the coffee tree. Coffee is primarily classified in two types - arabica and robusta. Arabian coffees, which make up the bulk of world production, are grown mainly in the tropical highlands of the Western Hemisphere. Robusta coffees are produced largely in the low, hot areas of Africa and Asia. Their flavors are less mild than the arabica coffees.
The supply of coffee is affected by weather conditions, the health of the coffee trees, and harvesting practices. Historically, weather has played a major role in determining world supply.
Coffee Futures Contract
The Coffee C contract is the world benchmark for Arabica coffee. The contract prices physical delivery of exchange-grade green beans, from one of 19 countries of origin in a licensed warehouse to one of several ports in the U. S. and Europe, with stated premiums/discounts for ports and growths.
Contract Symbol KC
Contract Size 37,500 pounds
Price Quotation Cents and hundredths of a cent up to two decimal places
Contract Listings March, May, July, September, December
Minimum Price Movement 5/100 cent/lb., equivalent to $18.75 per contract.
Settlement Physical delivery
Grade/Standards/Quality A Notice of Certification is issued based on testing the grade of the beans and by cup testing for flavor. The Exchange uses certain coffees to establish the "basis". Coffees judged better are at a premium; those judged inferior are at a discount.
Daily Price Limit None
Deliverable Growths Mexico, Salvador, Guatemala, Costa Rica, Nicaragua, Kenya, New Guinea, Panama, Tanzania, Uganda, Honduras, and Peru all at par, Colombia at 200 point premium, Burundi, Venezuela and India at 100 point discount, Rwanda at 300 point discount, and Dominican Republic and Ecuador at 400 point discount. Effective with the March 2013 delivery, the discount for Rwanda will become 100 points, and Brazil will be deliverable at a discount of 900 points.
Delivery Points Exchange licensed warehouses in the Port of New York District (at par), the Port of New Orleans, the Port of Houston, the Port of Bremen/Hamburg, the Port of Antwerp, the Port of Miami and the Port of Barcelona** (at a discount of 1.25 cents/lb).
First Notice Day Seven business days prior to first business day of delivery month.
Last Trading Day One business day prior to last notice day
Last Notice Day Seven business days prior to the last business day of the delivery month
Position Limits Position Limit and Position Accountability information for all IFUS products can be found at coffee.pdf.
NEW YORK 3:30 AM-2:00 PM
03:30-14:00 8:00 PM
LONDON 8:30 AM-7:00 PM
08:30-19:00 1:00 AM
SINGAPORE 4:30 PM-3:00 AM
16:30-03:00 9:00 AM
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