New Euronext Ukraine wheat futures
Euronext has launched Ukraine Black Sea wheat futures in partnership with the media organisation Argus. The futures are cash-settled and based on daily Argus Ukraine wheat price assessments. Exporters in Russia are, meanwhile, desperate to ship before the new export tariff of EUR 25/mt applies for wheat as of 15 February. The tariff will be lifted to EUR 50/mt on 1 March. As many as 70 ships are waiting to be loaded in the Sea of Azov, which is connected to the Black Sea.