Chicago Stock Exchange launches futures contract for Black Sea wheat
The Chicago Mercantile Exchange (CME) launched a Black Sea wheat futures contract on June 2, 2025, that will track export prices from Romania and Bulgaria.
The new product is tied to the Argus Media 12.5% protein wheat export price index for the “CVB” zone, which covers the Romanian port of Constanta and the Bulgarian ports of Varna and Burgas. The contract is priced in US dollars and is traded in lots of 50 metric tons. It is also noted that the contract includes both futures and options.
The launch of this contract could benefit Romanian farmers and grain traders, given the growing importance of the Black Sea region on the global market. However, traders note that the contract currently has low liquidity and it will take time for trading to pick up.
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