Paris – 14 October 2016 – With the November 2016 expiry approaching, Euronext rapeseed futures contract hit a new daily record volume with 21,369 lots traded on 13 October.
This record surpasses the previous record hit at the same period last year with 21,140 lots traded on 6 October 2015.
The poor rapeseed harvest in Europe combined with the industry’s high demand for biofuels and purchase of vegetable oils, particularly rapeseed based oils for the European winter season, lead to an increase in trading activity on the rapeseed futures contract.
Launched in 1994, the Euronext rapeseed futures contract is a hedging instrument for the oil industry, and a benchmark in Europe for rapeseed prices.
In 2014, Euronext extended its product range by launching two separate future and option contracts for rapeseed meal and rapeseed oil. With this oilseed contract, this new complex offers the industry a complete hedging instrument, in order to manage the entire crush margin.