CME to Launch EU Wheat Futures
USAgNet - 06/21/2016
CME Group said on Monday it plans to launch European Union wheat futures and options in September, completing a long-planned entry into the world's biggest wheat production zone where it will go head to head with Euronext.
The futures will be listed on the Chicago Board of Trade, reports Reuters. They will be priced in euros and physically deliverable to silos in France, in line with draft versions previously reported by market sources.
The first delivery position open for trading will be December 2016 and quality specifications will include minimum levels of 10.5 percent for protein and 170 for Hagberg falling numbers.
CME will be competing against Euronext's milling wheat contract that is a price benchmark in the EU.