The contract is for an agreed tonnage of winter oats, variety Mascani. The Oats must conform to all UK and EU regulations pertaining to food products in existence at the time of delivery. It is the responsibility of the seller to declare on the grain passport what, if any, post-harvest chemical treatments including pesticides have been used on the grains.

Pricing

All oats remain un-priced until such time as the seller requests the price to be fixed.  The seller has the right to request price fixing on any working day within the working hours of the LIFFE Futures Exchange and chose any of the four pricing periods listed. Space is limited in each category and will be allocated on a first come, first served basis.

All prices are ex farm. The pricing mechanism is subject to a maximum haulage allowance of £13 per tonne measured to either Bedford, Shoreham or Poole, usually to the nearer destination unless oats are moved for quality or other constraints to the further home in which case that rate to apply.

Aug-Sep 2021                          LIFFE  Nov 21 wheat price minus £12

Oct - Dec 2021                        LIFFE  Nov 21 wheat price minus £6

Jan - Mar 2022                        LIFFE  May 22 wheat price minus £9

Apr - May 2022                       LIFFE May 22 wheat price minus £6

Movement

Movement will be buyers call during the agreed period of movement. The buyer undertakes to move all priced oats within the nominated period of movement provided the sample has been approved. The buyer reserves the right to collect oats in an earlier position than nominated to match vessel movements, in such circumstances seller may defer pricing until later date if they wish.

Quality Specification *

Bushel Weight: Min 50 kg/hl

Moisture:                                   Max 15%

Screenings:                               Max 6% through a 2mm sieve

Admixture:                                 Max 2% ( of which max 1% other cereals )

Discoloured Groats:                Max 30 groats per 100g sample of oats

Weed Seeds:                             Max 40 seeds per 1kg sample ( including but not     

                                                      Limited to non cereal & wild seed, rapeseed,

                                                      Grass seed, and cleavers )

Hulling Losses                          Max 30%

Sprouted/Heated / Black  Grains:                        0%

All oats shall be sound and of merchantable quality, free from ergot, animal droppings, and must be sweet smelling and free of damage due to incorrect drying. Oats must be free from infestation with any known grain pests, and must not have been treated with insecticidal, fungicidal or any other chemical treatment other than those approved by DEFRA or equivalent body. Oats shall be free from any contamination with glass or metal or other foreign objects. All contracted oats must be produced on farms which are part of ACCS or equivalent farm scheme, and all deliveries must comply with the AIC Grain Passport Scheme. Oats must not be grown on land to which untreated sewage sludge has been applied. The seller guarantees that no genetically modified material will be included in deliveries under this contract.

*  This quality standard represents the minimum standard required to ensure full value on deliveries to any and all delivery points within the scheme. In the event that individual parcels of oats are found to be less suited for one or more destinations within the scheme for particular reasons of quality, the Buyer undertakes to make every reasonable effort to present parcels to the most suitable market.

Current AIC01 Contract to apply insofar as they are not inconsistent with these terms.

Notwithstanding AIC Contract Terms, Buyer applies and relies on the terms of the ultimate receiver at the time of delivery.