A sequence can be cancelled (Washed Out) against another sequence that exists on a different contract.  The following is a list of requirements before the sequences can be cancelled against one another:

• Both original contract and washout (opposing sequence) Applied quantity = 0
• Both sequences' Pricing Type = Priced or Cash
• Neither sequence has quantities scheduled against it
• One sequence must be sale and the other a purchase type
• The sequence quantities must be the same
• The commodity must be the same on both sequences
• Entities must be the same (same vendor or customer)
• Futures Market are the same
• Future months must be equal
• Unit of Measure is the same

Steps:

1. Open the contract that you want to Washout (cancel).
2. Select the appropriate sequence and click Washout
   
3. The Washout screen will appear
4. Either click Select Contract or Create New
   
5. When you click Select Contract:
   
6. When you click Create New
   
   
7. Click Continue
   
8. You are given a choice on how to process the request, select one
   
9. You should get a "success" message