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CME Group is offering cash-settled Black Sea Wheat and Black Sea Corn futures and options contracts to complement our existing suite of Corn, Soft Red Winter (SRW), Hard Red Winter (HRW) Wheat and Australian Wheat FOB (Platts) contracts.
The Black Sea Wheat FOB (Platts) and Black Sea Corn FOB (Platts) futures and options contracts track the cash market and will allow firms to manage price exposure to Black Sea wheat and corn markets. The Black Sea Wheat FOB (Platts) contract is based on the Platts Russian Wheat 12.5% Fob Black Sea Deep Water daily price assessment and the Black Sea Corn FOB (Platts) contract is based on the Platts Ukrainian Corn Fob Black Sea daily price assessment.
Black Sea Wheat and Corn futures and options are available to trade on CME ClearPort as blocks and CME Globex on screen.
Contract Title |
Black Sea Wheat FOB (Platts) Futures |
Black Sea Wheat FOB (Platts) Options |
Contract Size |
50 Metric Tonnes |
50 Metric Tonnes |
Price Quotation |
US Dollars and Cents per Metric Tonne |
US Dollars and Cents per Metric Tonne |
Tick Size (Minimum Fluctuation) |
$0.25 per metric tonne (US$12.50 per contract) |
$0.05 per metric tonne (US$2.50 per contract) |
Strike Increment |
N/A |
$2.50 |
Product Code |
BWF |
BWO |
Trading Hours |
Sunday - Friday 5:00 p.m. - 4:00 p.m. Chicago Time/CT with a 60-minute break each day beginning at 4:00 p.m. CT |
Sunday - Friday 5:00 p.m. - 4:00 p.m. Chicago Time/CT with a 60-minute break each day beginning at 4:00 p.m. CT |
Settlement time |
6pm London time |
6pm London time |
Listed Contracts Months |
15 monthly contracts listed for the next 15 consecutive calendar months |
12 monthly contracts listed for the next 12 consecutive calendar months |
Settlement Method |
Financially Settled |
Financially Settled |
Financial Settlement Price |
The Final Settlement Price for each contract month shall be equal to the arithmetic average of the Russian Wheat 12.5% Fob Black Sea Deep Water” price assessments published by Platts for each day that it is determined during the contract calendar month, rounded to the nearest $0.01. |
The Final Settlement Price for each contract month shall be equal to the arithmetic average of the Russian Wheat 12.5% Fob Black Sea Deep Water” price assessments published by Platts for each day that it is determined during the contract calendar month, rounded to the nearest $0.01. |
Termination of Trading |
Trading shall cease on the last business day of the contract month which is also a Platts publication date for the price assessment. |
Trading shall cease on the last business day of the contract month which is also a Platts publication date for the price assessment. |
Block minimum |
5 lots |
5 lots |
Contract Title |
Black Sea Corn FOB (Platts) Futures |
Black Sea Corn FOB (Platts) Options |
Contract Size |
50 Metric Tonnes |
50 Metric Tonnes |
Price Quotation |
US Dollars and Cents per Metric Tonne |
US Dollars and Cents per Metric Tonne |
Tick Size (Minimum Fluctuation) |
$0.25 per metric tonne (US$12.50 per contract) |
$0.05 per metric tonne (US$2.50 per contract) |
Strike increment |
N/A |
$2.50 |
Product Code |
BCF |
BSO |
Trading Hours |
Sunday - Friday 5:00 p.m. - 4:00 p.m. Chicago Time/CT with a 60-minute break each day beginning at 4:00 p.m. CT |
Sunday - Friday 5:00 p.m. - 4:00 p.m. Chicago Time/CT with a 60-minute break each day beginning at 4:00 p.m. CT |
Settlement time |
6pm London time |
6pm London time |
Listed Contracts Months |
12 monthly contracts listed for the next 12 consecutive calendar months |
12 monthly contracts listed for the next 12 consecutive calendar months |
Settlement Method |
Financially Settled |
Financially Settled |
Final Settlement Price |
The Final Settlement Price for each contract month shall be equal to the arithmetic average of the “Ukrainian Corn Fob Black Sea” price assessments published by Platts for each day that it is determined during the contract calendar month, rounded to the nearest $0.01.
|
The Final Settlement Price for each contract month shall be equal to the arithmetic average of the “Ukrainian Corn Fob Black Sea” price assessments published by Platts for each day that it is determined during the contract calendar month, rounded to the nearest $0.01 |
Termination of Trading |
Trading shall cease on the last business day of the contract month which is also a Platts publication date for the price assessment. |
Trading shall cease on the last business day of the contract month which is also a Platts publication date for the price assessment. |
Block minimum |
5 lots |
5 lots |
| Expiry Month Codes | Black Sea Wheat Monthly Futures (Product Code: BWF) | Expiry Month | Black Sea Wheat Options (Product Code: BW0) |
|---|---|---|---|
| June 2018 | BWFM8 | June 2018 | BWOM8 |
| July 2018 | BWFN8 | July 2018 | BWON8 |
| August 2018 | BWFQ8 | August 2018 | BWOQ8 |
| September 2018 | BWFU8 | September 2018 | BWOU8 |
| October 2018 | BWFV8 | October 2018 | BWOV8 |
| November 2018 | BWFX8 | November 2018 | BWOX8 |
| December 2018 | BWFZ8 | December 2018 | BWOZ8 |
| January 2019 | BWFF9 | January 2019 | BWOF9 |
| February 2019 | BWFG9 | February 2019 | BWOG9 |
| March 2019 | BWFH9 | March 2019 | BWOH9 |
| April 2019 | BWFJ9 | April 2019 | BWOJ9 |
| May 2019 | BWFK9 | May 2019 | BWOK9 |
| Expiry Month Codes | Black Sea Corn Monthly Futures (Product Code: BCF) | Expiry Month | Black Sea Corn Options (Product Code: BSO) |
|---|---|---|---|
| June 2018 | BCFM8 | June 2018 | BSOM8 |
| July 2018 | BCFN8 | July 2018 | BSON8 |
| August 2018 | BCFQ8 | August 2018 | BSOQ8 |
| September 2018 | BCFU8 | September 2018 | BSOU8 |
| October 2018 | BCFV8 | October 2018 | BSOV8 |
| November 2018 | BCFX8 | November 2018 | BSOX8 |
| December 2018 | BCFZ8 | December 2018 | BSOZ8 |
| January 2019 | BCFF9 | January 2019 | BSOF9 |
| February 2019 | BCFG9 | February 2019 | BSOG9 |
| March 2019 | BCFH9 | March 2019 | BSOH9 |
| April 2019 | BCFJ9 | April 2019 | BSOJ9 |
| May 2019 | BCFK9 | May 2019 | BSOK9 |
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
Contact Us
View AllCME Group / Chicago HQ
Phone: +1 312 930 1000
Toll Free (US Only): +1 866 716 7274
