GTA location differentials 

ASX Grains futures contracts are based on the Grain Trade Australia (GTA) No 2 Contract, otherwise known as a 'Track' contract.

GTA coordinates the annual assessment and publication of the GTA Location Differentials. It is important to note that they are not freight rates. They are an industry accepted measure by which Track contracts can be settled.

A ‘Track’ contract requires a commodity to be delivered up country within a certain specified price basing point (or port zone). The settlement value of this contract is calculated by subtracting the prevailing applicable location differential at the time of delivery specific for a tributary up country location from the 'Track' price.

Delivery locations provides an explanation of how the GTA Location Differentials are applied by commodity.

One of the key advantages of ASX Grain Futures is that the prices traded on ASX are available to all participants in the industry.

The ASX price is a track price for that particular commodity. When settled the grain is transferred Free In Store at an upcountry location. Western Australia Wheat contracts are settled Free in Store at the applicable Destination Site which may or may not be an upcountry location.

These below are examples of the Tender Advice notice that you would receive if delivery was made or taken. The Tender Advice shows how the ASX price is adjusted and settled. They are examples only, the GTA Location Differentials and Bulk Handler receival fees used may change from season to season.