Commodities Contract Details

• Soft commodities
• Agricultural & other commodities

Notes to tables

All the instruments described on this site are Contracts For Difference (CFDs). Our contracts give you exposure to changes in the value of commodity prices but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. Our Commodities CFDs give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.

2. We will quote an 'all-in' spread that includes both dealing spread and market spread. The size of our dealing spreads are shown in the information tables. All dealing spreads are subject to variation, especially in volatile market conditions. We will not charge any additional commission unless we notify you in writing.

3. Positions not already closed by the client expire automatically with spread on the following basis:

   • Coffee Arabica, US Cocoa, US Sugar No.11, US Cotton and Orange Juice basis the closing price of the relevant futures contract on NYBOT on our last dealing day
   • Chicago Wheat, Corn, Oats, Rough Rice and Soyabeans basis the closing price of the relevant futures contract on CBOT on our last dealing day
   • Live Cattle, Feeder Cattle, Lean Hogs, Pork Bellies and Lumber basis the closing price of the relevant futures contract on CME on our last dealing day
   • Milling Wheat and Rapeseed basis the closing price of the relevant futures contract on Euronext on our last dealing day.

4. The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.

5. For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer him the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if he so wishes, to roll the position over before it expires.

6. Only liquid months will be available at any one time.

7. We offer mini versions of our commodity contracts - with proportionately reduced margin requirements - at the following rates.

   20% of main contract size: London Cocoa, London Coffee, London Sugar, London Wheat, Milling Wheat, Rapeseed

   50% of main contract size: US Cocoa, US Coffee, US Sugar, Orange Juice, Corn, Oats, US Wheat, Soyabeans, Soyabean Meal, Soyabean Oil, Rough Rice, Feeder Cattle, Live Cattle, Lean Hogs, Pork Bellies, Cotton, Lumber

8. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.

9. Please note that Tiered Margining applies; this means that higher margins may be required for large positions. Please see our Tiered Margining page for details.