ITF (In Transit Feed) refers to commodity pricing and logistics arrangements where goods are priced and risk transferred while in transit between origin and destination. This pricing method is common in international commodity trading where long transportation times create exposure to price movements during voyage periods. ITF arrangements help allocate price risk between buyers and sellers during extended shipping periods.

ITF pricing requires careful consideration of timing, risk allocation, and price discovery mechanisms during transportation periods. These arrangements are particularly important for bulk commodities with long shipping times, such as iron ore, coal, and grain shipments. Understanding ITF terms helps manage logistics risks and optimize contract structures for international trade.

Real-world example: A grain trader sells wheat using ITF pricing based on Chicago futures prices during the 21-day ocean voyage from U.S. Gulf ports to Asian buyers, sharing price risk during the extended transportation period.