Urea (Granular) FOB U.S. Gulf

Futures and Options
Globex Code
UFVH5
Last
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Last Updated26 Mar 2025 06:13:28 PM CT.
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Manage risk in the volatile global fertilizer markets with products on leading daily assessments

Global fertilizer market volatility underscores the importance of effective price risk management. Urea U.S. Gulf futures and options enable you to efficiently hedge price exposure and reduce counterparty credit risk. With futures now settled to a daily price assessment, enjoy greater precision for hedging and trading strategies. The addition of options on Urea futures introduces greater flexibility for managing price risk on a leading nitrogen-based fertilizer product.

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Features and benefits

Precision of daily assessments

Urea U.S. Gulf futures are now available on price assessments published daily by both ICIS and Profercy.

Mitigated counterparty risk

Significantly reduce counterparty credit risk and manage price exposure — all in one efficient transaction.

Diverse, centralized liquidity pool

Quickly and easily connect to a diverse group of potential trading partners in our central hub for managing input and output risk.

Choice of execution

Access liquidity via block trades, the central limit order book or cross transactions.

Versatility of options

Enjoy expanded choice with the introduction of Urea Fertilizer options, a flexible alternative for managing price risk.

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Urea options

Enhance risk management capabilities with new options on Urea futures, the physically delivered options contract that settles to daily Profercy and ICIS price assessments.

Explore this product in depth

Review contract highlights

  • Contract Unit
    100 tons
  • Price Quotation
    U.S. dollars and cents per ton
  • Product Code
    CME Globex: UFV
    CME ClearPort: UFV
    Clearing: UFV
  • Trading Hours
    CME Globex:
    Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
    CME ClearPort:
    Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT
Last Updated26 Mar 2025 06:13:27 PM CT.
Date
Future VolumeOptions Volume

Urea options FAQ

What is the size and availability of the options contract?

The options contract is 100 tons and physically delivered into 1 futures contract. The first trade date is March 25, 2024. April 2024 will be the first listed month available for trading and clearing.


How will this contract settle on a daily basis?

The daily settlement time will be 2:30 CT each day and will be settled based on contributions from active brokers in the fertilizer market. The daily published ranges from both price reporting agencies (PRAs) will also be used in the spot month daily settlement calculation.


What does a physically delivered options contract mean?

Upon expiration, the option contract will be physically delivered into the expiring cash-settled Urea U.S. Gulf futures contract.

 


What is the product code?

The product code for the options contract is UGO. the product code for the underlying futures contract in UFV.


When will this contract expire?

Trading shall cease on the last business day of the contract month which is also a Profercy and/or ICIS publication date for the price assessment. the options contract will expire into the underlying futures contract.


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