CHICAGO, April 27,
2022 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced it will launch Canadian
Wheat (Platts) futures on June 13,
pending regulatory review. This contract will offer market
participants a new tool to directly manage exposure to the Canadian
wheat market.
"Canada is the world's second
largest producer of spring wheat and is one of the world's top
wheat exporters, making it an increasingly important region for our
global clients," said Tim Andriesen,
Managing Director of Agricultural Products at CME Group. "Canadian
Wheat futures are complementary to our existing suite of wheat
products and will allow our clients to more effectively manage
their exposure across the entire global wheat trade."
Canadian Wheat futures will be cash-settled and will closely
track the shipment of grains from Vancouver, where the bulk of Canadian western
red spring wheat is exported today. The Canadian Wheat contract
will be based on the Platts CWRS (Canadian Western Red Spring)
Wheat for Number 2 CWRS 13.5% protein FOB Vancouver daily price
assessment.
Ian Dudden, Global Pricing
Director, Agriculture at S&P Global Commodity Insights, said,
"We are pleased that CME Group and their customers recognize the
important role our independent Canadian Wheat price assessment
plays in creating price transparency, which in turn provides
opportunities for the provision of risk management tools that bring
greater efficiency to the global agriculture markets."
Canadian Wheat futures will be listed by and subject to the
rules of CBOT. For more information and for contract specs, please
see here.
About CME Group
As the world's leading
derivatives marketplace, CME Group (www.cmegroup.com) enables
clients to trade futures, options, cash and OTC markets, optimize
portfolios, and analyze data – empowering market participants
worldwide to efficiently manage risk and capture opportunities. CME
Group exchanges offer the widest range of global benchmark products
across all major asset classes based on interest
rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board
of Trade of the City of Chicago,
Inc. NYMEX, New York Mercantile Exchange and ClearPort are
trademarks of New York Mercantile Exchange, Inc. COMEX is a
trademark of Commodity Exchange, Inc. BrokerTec and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. Dow Jones, Dow Jones Industrial Average, S&P
500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective
owners.
CME-G
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SOURCE CME Group