CME Group launches Ukrainian wheat futures in April
CME Group announced it will list Ukrainian wheat futures and options next month in partnership with pricing agency Platts, expanding its footprint in the major grain-exporting Black Sea region to a third contract, Yahoo!Finance reports with reference to Reuters.
As reported, the derivatives, to be launched on its Globex electronic platform, will be effective from Sunday, April 11 for trading on Monday, April 12, pending regulatory approval.
"CME, which operates the Chicago Board of Trade, and Platts already offer cash-settled futures for Russian wheat and Ukrainian corn, the main grain export products in the Black Sea region," the message reads.
CME's wheat contract will also be cash-settled and be based on Platts' Ukrainian wheat 11.5% protein FOB daily price assessment.
The first listed contract month will be May 2021.
As a reminder, in early February Euronext said it was developing cash-settled futures for Ukrainian wheat to cater for the growing Black Sea grain export market. Commodity pricing agency Argus Media was involved.
