Euronext enhances specifications for its milling wheat contract

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Paris – 23 October 2014 Euronext, the leading exchange in the Eurozone, today announced that its milling wheat futures benchmark will adopt new specifications aimed at expanding Euronext’s commodities offering and better meeting the farming industry’s needs. These changes will take effect with the September 2017 contract month.

Quality criteria for the milling wheat contract will be enhanced to incorporate the following new specifications:

  • Protein content: minimum 11%
  • Hagberg falling number: minimum 220 seconds
  • Minimum 76 kilos per hectoliter

Euronext also welcomes the decision by Socomac to operate its accredited delivery silo under exactly the same delivery requirements as Sénalia[1] for wheat from the 2015 and 2016 crop years.

Together these new measures are aimed at enhancing the transparency and robustness of Euronext’s milling wheat contract, strengthening its position as an indisputable price reference point for the European wheat industry—and meeting users’ requirements.

Anthony Attia, Chairman and CEO of Euronext Paris, said: “Euronext’s commodities business covers a broad range of futures and options, including French benchmark contracts for milling wheat, corn and colza. In september, agricultural commodity contracts exceeded one million open positions on our markets. We are proud of our offering; if reflects our ongoing dialgue with clients and our commitment to consolidating and expanding our expertise in this sector, which already has very sound foundations.

Olivier Raevel, Head of Commodities at Euronext, said: “Euronext has confirmed its commitment to the wheat industry by enhancing the specifications of its milling wheat contract. This decision follows lengthy discussions with all market participants and is in line with our strategy of strengthening and repositioning our product range in commodities. Our aim is to raise the profile of our milling wheat contract to encourage trade and exports, aligning our terms on the very highest standards to improve wheat quality.

 

[1]10.5%protein content and 170 second Hagberg Falling Number.

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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