The Winnipeg Commoidty Exchange provides the world's only futures market for Flaxseed. In a futures market, buyers and sellers meet to determine the prices for standardized contracts. These contracts require delivery of a product, such as flaxseed, at speicfied location during a month in the future. The Winnipeg Commodity Exchange also disseminates Flaxseed future prices throughout the world to provide a unifor and highly visible marketplace. Futures prices are used a s a benchmarket to determine cash prices at any given location in western Canada, or anywhere in the world.

The buyers and sellers of physical Flaxseed use the futures market as a mechanism to minimize price risk. A farmer might sell futures contracts to protect against declines in price until the crop is sold in the cash market. A Japanese oilseed crusher might purchase future contracts to lock in a certian price until the crop is purchased for import.

Flaxseed or linseed is one of the world's most versatile crops. Linseed oil is the principle product from this oilseed.

While primarily used as a base for paints, stains, lacquers and varnishes, linseed oil is also used in soaps, putties and printing inks. Linseed meal and cakes, the other by-products of crushing, are used as protein suppliements in livestock rations for improved digestion.