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Argus-assessed cash-settled futures pegged to wheat shipped from Constanța, Varna and Burgas launched and traded roughly 160,000 tonnes in the first month. The CVB price correlates 0.97 with Russian wheat from Novorossiysk, and regional prices have swung with annualised volatility of 15–30%.
A new hedging tool for Black Sea wheat improves price transparency and risk management, though it does not by itself change supply; the note cites a smaller Russian and Ukrainian crop as a background bullish factor.
aria-cmi.comAug 18, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
