CME and Euronext to launch Europe wheat spread contract, sources say

The CME Group CME.O and Euronext ENX.PA exchanges are planning to launch joint futures contracts on the spread between Chicago Board of Trade wheat and Euronext milling wheat futures prices, three sources told Reuters on Wednesday.

There will be two products, one cleared by CME and traded in dollars, the other cleared by Euronext and traded in euros, the sources said on the sidelines of the GrainCom conference in Geneva.

CME and Euronext both declined to comment.

The new products will also allow traders who are not registered on both the CBOT and Euronext markets to trade the difference, the sources said.

The contracts are still to be agreed officially with some details to be confirmed.

The U.S. exchange launched European wheat futures in 2016 as a direct competitor to Euronext but closed them two years later due to a lack of activity.

It suspended its Black Sea wheat and corn and Ukraine wheat futures in August of last year.

Tags: futures contracts, CME Group, wheat, futures, milling wheat, Chicago Board of Trade, Euronext