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3 months ago
CME Group plans variable storage rate for K.C. wheat futures
April 24, 2017 / 7:50 PM / 3 months ago

CME Group plans variable storage rate for K.C. wheat futures

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CHICAGO, April 24 (Reuters) - CME Group Inc said on Monday it plans to adjust its hard red winter wheat futures contracts, after some U.S. farmers said they had lost faith in the market because it was not converging with local cash prices.

The exchange operator will implement a "variable storage rate" mechanism in the K.C. wheat futures market starting on March 18, 2018, according to a notice sent to clients. (Reporting by Tom Polansek; Editing by Meredith Mazzilli)

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