CME and Euronext to launch US-Europe wheat spread contract, sources say

By Sybille de La Hamaide

GENEVA, May 15 (Reuters) - The CME Group and Euronext exchanges are planning to launch joint futures contracts on the spread between Chicago Board of Trade wheat and Euronext milling wheat futures prices, three sources told Reuters on Wednesday.

There will be two products, one cleared by CME and traded in dollars, the other cleared by Euronext and traded in euros, the sources said on the sidelines of the GrainCom conference in Geneva.

CME and Euronext both declined to comment.

The new products will also allow traders who are not registered on both the CBOT and Euronext markets to trade the difference, the sources said.