PARIS (Reuters) – Financial markets driver CME Group stated on Tuesday that it intends to release cash-settled futures for European rapeseed oil following month, utilizing an Argus Media index for Dutch costs.
The brand-new item will certainly begin trading on April 28, based on governing authorization, via CME’s Chicago Board of Trade exchange, the firm stated in a notification on its web site.
The futures will certainly contain successive regular monthly agreements, beginning with May 2025, and sell great deals of 20 statistics heaps, it stated.
Rapeseed oil is a by-product of rapeseed, one of the most generated oilseed plant in Europe.
The launch notes a fresh effort by CME, whose united state corn, wheat and soybean futures are international cost standards, to increase in the European grain market.
The united state team ditched a European Union wheat futures agreement after stopping working to bring in quantities versus Euronext’s wheat market, while it put on hold trading in its Black Sea grain futures complying with Russia’s intrusion of Ukraine.
Euronext’s rapeseed futures are a rate criteria in Europe however the exchange ceased relevant futures for rapeseed oil and dish that had actually fallen short to trade proactively.
At the very same time, CME and Euronext in 2014 collectively released agreements to permit trading of cost spreads in between their corresponding wheat futures.
(Reporting by Gus Trompiz and Sybille de La Hamaide; Editing by Susan Fenton)
