CME to Launch New Canadian Wheat Futures

The Chicago-based CME Group has announced it will launch a new Canadian wheat futures market. 

To begin June 13, the contract will offer market participants a new tool to directly manage exposure to the Canadian wheat market, CME said in a release Wednesday. 

"Canada is the world's second largest producer of spring wheat and is one of the world's top wheat exporters, making it an increasingly important region for our global clients," said Tim Andriesen, Managing Director of Agricultural Products at CME Group. "Canadian Wheat futures are complementary to our existing suite of wheat products and will allow our clients to more effectively manage their exposure across the entire global wheat trade." 

Canadian Wheat futures will be cash-settled and will closely track the shipment of grains from Vancouver, where the bulk of Canadian Western Red Spring wheat is exported today. The Canadian Wheat contract will be based on the Platts CWRS (Canadian Western Red Spring) Wheat for Number 2 CWRS 13.5% protein FOB Vancouver daily price assessment. 

Canadian Wheat futures will be listed by and subject to the rules of Chicago Board of Trade.