CME Group is offering cash-settled Black Sea Wheat and Corn futures and options, and Sunflower Oil futures to complement our existing suite of Corn, Soft Red Winter (SRW), Hard Red Winter (HRW) Wheat, Australian Wheat FOB (Platts), Soyoil and Crude Palmoil contracts.
The Black Sea FOB (Platts) Wheat, Corn and Sunflower Oil contracts track closely to their respective cash markets and enable firms to manage price exposure to Black Sea wheat, corn and sunflower oil markets.
The Black Sea Wheat FOB (Platts) futures contract is based on the Platts Russian Wheat 12.5% FOB Novorossiisk daily price assessment. The Black Sea Corn FOB (Platts) futures contract is based on the Platts Ukrainian Corn FOB Black Sea Panamax ports daily price assessment, and the Black Sea Sunflower Oil FOB (Platts) is based on the Platts Ukrainian Raw Sunflower Oil FOB Chornomorsk.
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- October 2020 International Grains Update
- September 2020 International Grains Update
- International Grains Monthly Update ‒ August 2020
- July 2020 International Grains Update
- June 2020 International Grains Update
- May 2020 International Grains Update
- April International Grains Update 2020
- March 2020 International Grains Update
- February 2020 International Grains Update
- January 2020 International Grains Update
- December 2019 International Grains Update
- November 2019 International Grains Update
- October 2019 International Grains Update
FAQ
Trading Resources
- Black Sea Wheat futures spurs new spread trading opportunities
- Clarification to Block Minimum Threshold Adjustments
- Hedging opportunities using Black Sea Wheat futures
- Managing Black Sea Sunflower Oil Price Risk
- Black Sea Sunflower Oil Futures Specifications
- Black Sea Wheat and Corn Fact Sheet
- Options Overview
- Block Trading Guide
- CME ClearPort
- Platts Black Sea Methodology
- Wheat and Corn Contract Summaries and Exchange Fees
- Sunflower Oil Contract Summary and Exchange Fees
- Black Sea Brokers
- Live Block Trades
- Margins
French Resources
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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 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 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 |
Contract Title |
Black Sea Sunflower Oil FOB (Platts) Futures |
Contract Size |
25 Metric Tonnes |
Price Quotation |
US Dollars and Cents per Metric Tonne |
Tick Size (Minimum Fluctuation) |
US$0.50 per Metric Tonne (US$12.50 per contract) |
Strike Increment |
N/A |
Product Code |
BSF |
Trading Hours |
ClearPort: 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 Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Settlement time |
6:00 p.m. UK time |
Listed Months |
12 months, starting with November 2019 |
Settlement Method |
Financially Settled |
Final Settlement Price |
The Final Settlement price each contract month shall be equal to the arithmetic average of the Sunflower Oil Black Sea FOB Ukraine price assessments published by Platts for each day that is determined during the Settlement Period, rounded to the nearest $0.01. The Settlement Period for a specified contract month shall be the period that starts on, and includes, the 16th calendar day of the month that is two months prior to the contract month, and ends on, and includes the 15th calendar day of the month prior to the contract month. |
Termination of Trading |
Trading shall cease on the 15th calendar day of the month prior to the contract month. If not a business day or Platts publication date for the price assessment, trading shall cease the business day prior. |
Block minimum |
5 lots |
| Expiry Month Codes | Black Sea Wheat Monthly Futures (Product Code: BWF) | Expiry Month | Black Sea Wheat Options (Product Code: BW0) |
|---|---|---|---|
| July 2019 | BWFN9 | July 2019 | BWON9 |
| August 2019 | BWFQ9 | August 2019 | BWOQ9 |
| September 2019 | BWFU9 | September 2019 | BWOU9 |
| October 2019 | BWFV9 | October 2019 | BWOV9 |
| November 2019 | BWFX9 | November 2019 | BWOX9 |
| December 2019 | BWFZ9 | December 2019 | BWOZ9 |
| January 2020 | BWFF0 | January 2020 | BWOF0 |
| February 2020 | BWFG0 | February 2020 | BWOG0 |
| March 2020 | BWFH0 | March 2020 | BWOH0 |
| April 2020 | BWFJ0 | April 2020 | BWOJ0 |
| May 2020 | BWFK0 | May 2020 | BWOK0 |
| June 2020 | BWFM0 | June 2020 | BWOM0 |
| Expiry Month Codes | Black Sea Corn Monthly Futures (Product Code: BCF) | Expiry Month | Black Sea Corn Options (Product Code: BSO) |
|---|---|---|---|
| July 2019 | BCFN9 | July 2019 | BSON9 |
| August 2019 | BCFQ9 | August 2019 | BSOQ9 |
| September 2019 | BCFU9 | September 2019 | BSOU9 |
| October 2019 | BCFV9 | October 2019 | BSOV9 |
| November 2019 | BCFX9 | November 2019 | BSOX9 |
| December 2019 | BCFZ9 | December 2019 | BSOZ9 |
| January 2020 | BCFF0 | January 2020 | BSOF0 |
| February 2020 | BCFG0 | February 2020 | BSOG0 |
| March 2020 | BCFH0 | March 2020 | BSOH0 |
| April 2020 | BCFJ0 | April 2020 | BSOJ0 |
| May 2020 | BCFK0 | May 2020 | BSOK0 |
| June 2020 | BCFM0 | June 2020 | BSOM0 |
Expiry Month Codes |
Black Sea Sunflower Oil Monthly Futures (Product Code: BSF) |
|---|---|
November 2019 |
BSFX9 |
December 2019 |
BSFZ9 |
January 2020 |
BSFF0 |
February 2020 |
BSFG0 |
March 2020 |
BSFH0 |
April 2020 |
BSFJ0 |
May 2020 |
BSFK0 |
June 2020 |
BSFM0 |
July 2020 |
BSFN0 |
August 2020 |
BSFQ0 |
September 2020 |
BSFU0 |
October 2020 |
BSFV0 |
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