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.