Paris – 5 February 2015 – Euronext, the primary exchange in the Eurozone, is announcing the launch at the beginning of March 2015 of its new premium milling wheat no. 3 contract, subject to final regulatory approval. Based on premium specifications, this new contract consolidates Euronext’s expertise in milling wheat and is fully adapted to the needs of stakeholders in the agrifood industry, providing a higher quality contract available for trading from September 2015.
The launch of the new premium milling wheat contract no. 3 is aimed at strengthening Euronext’s offering in one of its flagship products, now a benchmark for the wheat industry in Europe. Developed in partnership with industry requirements as expressed in 2014 surveys, this new instrument for physical delivery meets enhanced qualitative criteria:
- Protein content: minimum 11%
- Hagberg falling number: minimum 220 seconds
- Minimum 76 kilos per hectoliter
Delivery sites for the new contract include silos operated by Euronext’s partners of reference for milling wheat—Sénalia, Socomac in Rouen and Sica Nord-Céréales in Dunkirk—as well as new silos in Nantes and Bordeaux operated by InVivo, France’s largest agricultural cooperative.
Commenting on the new partnership, Laurent Martel, General Manager, Director, Agricultural Division inVivo, said “We are delighted to partner as delivery silo in the launch of Euronext's new milling wheat contract. Our aim is to better meet industry demand for premium quality milling wheat. We hope that InVivo will contribute to the success of this contract.”
Anthony Attia, CEO of Euronext Paris, said: “Our milling wheat futures contract is now the European benchmark for prices on physical delivery markets. Over the past 15 years, this contract has built a name for itself based on our in-depth understanding of industry needs and a focus on international growth. Today our premium milling wheat no. 3 contract is fresh proof of our commitment to stakeholders in agriculture and will help strengthen Euronext’s positioning as a major player in commodities markets.”
Olivier Raevel, Head of Commodities at Euronext, noted: “The launch of our new premium milling wheat no. 3 contract reflects our commitment to providing greater flexibility and transparency to our partners in the French and European grain industry, with whom we work closely. By raising the bar for wheat quality and expanding the number of physical delivery points, we are actively contributing to a quality focused shift in industry standards. 2014 saw two record highs in daily trading in our flagship contract, reflecting its attractiveness to our increasingly global client base. Adding this new contract will boost overall liquidity and exports.”