CME Group will launch European Union Wheat futures and options in September, according to a company news release.
CME Group is the owner of the Chicago Board of Trade and announced the new EU Wheat futures this week. CME Group’s Tim Andriesen says the new EU Wheat futures further positions the CME Globex trading platform as the global destination for wheat trading and risk management. Each contract will represent 50 metric tons of physical EU wheat with specific quality specifications.
Reuters reports that CME has been working on an EU wheat contract for several years to add to its U.S. futures, which are a global benchmark. But it has faced hurdles in getting French grain silo operators to agree to act as delivery points.
EU Wheat futures and options contracts will be available for trading electronically via CME Globex Monday through Friday between 10:30 a.m. and 6:35 p.m. Paris time. EU Wheat options will also be available for trading on the company's Chicago trading floor from 8:30 a.m. to 11:35 a.m. Chicago time.
Source: NAFB News Source
