Volume & highlights of the quarter
Q1 2024 was our best quarter ever in terms of volume and ADV, primarily driven by Euronext Wheat and Rapeseed Futures contracts.
The volatility in the grains markets dropped in the beginning of 2024 which, along with low price levels, limited the interest in options while creating more interest in futures. Grains prices had been declining throughout the first quarter amid limited demand from destinations and ample supply from the Black Sea region.
Additionally, the weather conditions for the new crop were rather favourable in this region and in the United States, adding pressure on the prices. This bearish trend prompted some market players to readjust their positions, resulting in an increase in traded volumes.
In Q1 2024, we saw +30% in total volume vs Q1 2023, and +24% vs Q4 2023.
It was also a record month for total volume, with 2.8 million futures and options lots traded in February 2024.
Consultation on Euronext Corn
In 2023, we consulted the corn market to see how to improve our existing offering.
The qualitative consultation was followed by an online questionnaire. The objective was to meet market players' needs when deciding on potential changes to the Corn Futures contract and functionality.
You will find the conclusion of the questionnaire below, with several suggestions that seem to be a good starting point for us to deep dive.
We will evaluate the different options in detail and publish our decision later.
Latest news about the Durum Wheat contract
The attraction for the durum wheat contract is growing. In March 2024, it settled with open positions for the first time, and we expect more volumes in the coming months.
The evolution of the Sitagri European Durum Wheat Index (SEDWI) is available on the Euronext website and its weekly average, provided by FinanceAgri, is published every Monday.
For more information, visit the Durum Wheat webpage
Introducing the Euronext Salmon Futures
We will soon release a new cash-settled futures contract on salmon, listed on Euronext Paris.
Based on the Sitagri Salmon Spot Index (SISALMONI), this contract will be available in the EUA test environment from 6 June 2024. The first trading day is scheduled for Monday 22 July 2024.
News on the clearing migration
Euronext Clearing became the default CCP for our cash markets in Amsterdam, Brussels, Dublin, Lisbon and Paris in Autumn 2023. It currently clears equities, ETFs, structured products, warrants, and bonds across six Euronext markets, including the Italian markets.
Subject to regulatory approval, the migration of our listed commodity derivatives contracts to Euronext Clearing will be on 1 July 2024.
For more information, check out the annexes of the delivery procedure:
Milling Wheat Futures | Corn Futures | Rapeseed Futures
New Head of Agricultural Commodities
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Effective as of 1 April 2024, Robin Maisonneuve has been appointed as Head of Agricultural Commodities, based in Paris. His role includes overseeing the activities of the Euronext MATIF franchise. |
Find out more
See all our contracts on the Euronext Live Markets website.
Contact our team: commodities@euronext.com