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CME Group's Black Sea wheat futures began trading on Monday with an opening trade of $184.50 per tonne for 40 lots in August contracts. Black Sea corn futures had not traded as of 1045 GMT.
The wheat contract settles against the Platts Russian Wheat 12.5% FOB Black Sea price.
A new regulated futures contract gives exporters and buyers a hedging tool for the Black Sea export region, which may improve price transparency for feed wheat and corn sourced there. The launch itself does not shift supply or demand, so the direct price impact is limited.
reuters.comDec 18, 2017Not enough comparable past events yet for a historical read.
Not 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.
