CME Group to launch European rapeseed oil futures
PARIS, March 18 (Reuters) - Financial markets operator CME Group (CME.O), opens new tab said on Tuesday that it plans to launch cash-settled futures for European rapeseed oil next month, using an Argus Media index for Dutch prices.
The new product will start trading on April 28, subject to regulatory approval, through CME's Chicago Board of Trade exchange, the company said in a notice on its website.
The futures will consist of consecutive monthly contracts, starting with May 2025, and trade in lots of 20 metric tons, it said.
Rapeseed oil is a byproduct of rapeseed, the most produced oilseed crop in Europe.
The launch marks a fresh attempt by CME, whose U.S. corn, wheat and soybean futures are global price benchmarks, to expand in the European grain market.
The U.S. group scrapped a European Union wheat futures contract after failing to attract volumes against Euronext's (ENX.PA), opens new tab wheat market , while it suspended trading in its Black Sea grain futures following Russia's invasion of Ukraine.
Euronext's rapeseed futures are a price benchmark in Europe but the exchange discontinued related futures for rapeseed oil and meal that had failed to trade actively.
At the same time, CME and Euronext last year jointly launched contracts to allow trading of price spreads between their respective wheat futures.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
3 hours ago
- Reuters
Israel's inflation rate eases more than expected to 3.1% in May
JERUSALEM, June 15 (Reuters) - Israel's annual inflation rate eased more than expected to 3.1% in May, official data showed on Sunday, although it is still slightly above target and the escalation of the country's conflict with Iran poses additional risks to the outlook. Inflation (ILCPIY=ECI), opens new tab eased from 3.6% in April when it was boosted by a spike in airfares. The May rate was below expectations of 3.4% in a Reuters poll and stayed above the government's 1%-3% annual target range. Government officials have largely blamed war-related supply issues for a spike in inflation over the past year, even as price pressures eased globally. Israel's central bank believes demand is also helping to keep prices high. It will now be watching to see how the sudden escalation in Israel's conflict with Iran in recent days, which has already pushed oil prices higher, affects overall prices. Israel's annual inflation rate reached 3.8% in January, its highest level since September 2023. The central bank in April projected a 2.6% rate for 2025. On a monthly basis, the consumer price index (ILCPI=ECI), opens new tab fell by 0.3% in May from April, after a 1.1% rise the prior month, led by declines in the cost of transport and telecommunications, fresh vegetables and housing services, the Central Bureau of Statistics' data showed. These were partly offset by higher prices of fresh fruits, clothing, entertainment, health and food. A Reuters poll had expected a 0.1% rise month-on-month. The Bank of Israel on May 26 held its benchmark interest rate at 4.5% due to inflation worries stemming from Israel's war with Hamas militants in Gaza. A day later, Bank of Israel Governor Amir Yaron told Reuters that monetary policy needed to remain "cautious" given the uncertain geopolitical situation and near-term inflation environment, with policymakers ready to delay any rate cuts until inflation eased. The next policy decision is slated for July 7.
Scottish Sun
7 hours ago
- Scottish Sun
Football could introduce new transfer rule to let players buy out their contracts in radical move that would slash fees
All recommendations within this article are informed by expert editorial opinion. If you click on a link in this story we may earn affiliate revenue. Scroll down to see how some stars' values will be impacted by the proposed change MON£Y BAWL Football could introduce new transfer rule to let players buy out their contracts in radical move that would slash fees Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MASSIVE transfer fees could soon become a thing of the past — with players' chiefs wanting stars to have freedom to break their contracts for a fixed compensation payment. The international players' union FifPro has accused Fifa of dragging its feet over new transfer rules after the European Court agreed that ex-Arsenal and Chelsea star Lassana Diarra was illegally "handcuffed" by Russian side Lokomotiv Moscow a decade ago. Sign up for Scottish Sun newsletter Sign up 5 A major case involving ex-Chelsea star Lassana Diarra could make massive transfer fees a thing of the past Credit: Getty 5 The ruling from the European Court means inflated transfer fees could be a thing of the past Credit: EPA 5 The likes of Alexander Isak would be able to buy out their contract rather than being marooned while clubs argue over a transfer fee Credit: Alamy Major agents claimed the October ruling was the first step towards a US-style 'free agency' for players, with fees becoming a thing of the past and stars only liable to pay the balance of their contracts when they switch clubs. Top clubs and Fifa are battling to resist such a move, while this summer Prem clubs already splashed out £375million before the full market officially opens tomorrow. But now FifPro has told stars and their lawyers to be ready to test Fifa's failure to react and use European law to push for freedom of movement. FifPro legal chief Alexandra Gomez Bruinewoud said: 'Every worker should have the right to end a contractual relationship. READ MORE IN FOOTBALL PLAYING AWAY? Kieran Trippier parties with mystery blondes as star's wife consults lawyers 'Knowing how much you will have to pay as compensation is part of that right. 'Also, the fact you leave your job should not prevent you from being hired in another job, which is what was happening in football.' Even the giants of the game may be forced into a major rethink by the repercussions of a row sparked in Moscow a decade ago. Former Chelsea, Arsenal and Portsmouth midfielder Diarra may not have really impacted the Prem in his four seasons, which brought just 44 top-flight games. BEST ONLINE CASINOS - TOP SITES IN THE UK Yet Diarra's win at the European Court of Justice looks increasingly likely to significantly change the way the transfer market works. If FifPro is right, the result will be for all players to have the right to break their contracts. Transfer fees could be SCRAPPED forever after Lassana Diarra wins landmark court case against Fifa It would see players worth £100m on the open market suddenly available for a fraction of that sum. Of course, any new regulations will not be introduced this summer. Fifa rushed through a series of temporary transfer regulations, with dire warnings of the 'collapse' of the transfer market unleashing 'chaos'. But FifPro remains unconvinced the latest moves from Zurich meet the demands of EU law. One insider explained: 'This could be the last few years of the inflated transfer fees we have all seen. 'The European Court has said that football must operate within EU law. 5 'Football is the outlier. There's no other industry — other than maybe thoroughbred horses — where you see employees change hands for millions of pounds and it is time for the game to be brought in step.' Gomez Bruinewoud added: 'The judges in the Diarra case explained why the system was against EU law. 'I'm not afraid to say the same Fifa rules are probably also against most national labour laws.' Top players will benefit from higher wages and longer deals, though with budgets finite, that would mean less cash and shorter deals for players further down the pecking order — and limited job security in the lower tiers. Prem club bosses also fear the consequences, arguing the effective abolition of fees would blow up the entire footballing pyramid as money would no longer 'trickle down'. It is likely that, as with the Jean-Marc Bosman courtroom saga that turned European football on its head 30 years ago, it will need another player to be the test case to break the current system. But it seems that challenge is a matter of time from being made. And with the players' union backing, the most fundamental change the game has ever seen. 5 TRANSFER NEWS LIVE - KEEP UP WITH ALL THE LATEST FROM A BUSY SUMMER WINDOW WATCH EVERY MATCH OF THE CLUB WORLD CUP 2025 LIVE ON DAZN
Daily Record
9 hours ago
- Daily Record
100 million transfer claim triggers a festering Celtic acrimony as Hotline seizes on Lennon Miller shout
Celtic and Rangers spend fortunes on folk who scour the globe looking for players. But they could save themselves a few quid by just taking the advice of the Hotline when it comes to new arrivals. Hoops fans are debating top targets such as Lennon Miller and Evan Ferguson, while Gers punts have strong views on the likes of Kwame Poku. Never mind recruitment gurus or sporting directors, Scott McAdam, Glasgow, said: ' Celtic should forget about Lennon Miller as £10m for an 18-year-old who's had one season in the top team at Motherwell is too much. 'They must be delusional if they think anyone in Scotland will pay that kind of money for him.' Paul Price, Glasgow, said: 'Wise up Celtic. Lennon Miller is an outstanding talent with so much potential. 'Celtic should have had him in a pre- contract when last season finished.' James McCaw emailed: 'How good of Chris Sutton saying Celtic should spend £5m or £6m to sign Lennon when there's reportedly been offers in the £8 million bracket and now a reported 10 million offer coming from Sunderland. 'Lennon will only get to be an even better player than he already is by playing regularly, not sitting on the bench waiting for a chance to break into the team.' Stephen Mulhern, Dumbarton, said: 'I hope rumours that Celtic are supposedly interested in Evan Ferguson are just that. 'He reminds me of Olivier Burke who came with a big reputation but turned out about as good as Oliver Hardy. 'I still think there's a player in Adam Idah, despite his critics, and I'd persevere with him at the start of the season.' Peter Cooperwhite emailed: 'So Shay Given reckons Celtic should go for Evan Ferguson with record reads 33 games without a goal. 'Idah can't do much better and Celtic fans laugh at the Rangers recruitment policy. 'Really this boy was once worth a staggering £100m is that crypto currency jargon or am I in another world.' John Stewart, Newton Mearns, said: 'I've heard it all now, Ferguson £100 million rated Celtic target? 'He's flopped everywhere he's been. Harry Kane was £80 million.' Peterborough legend Barry Fry wants top dosh for Poku but Robert Livingstone, Palm Beach, said: 'Fry's been around the block knows how to create a good story, but Peterborough finished 18th in League One, so Poku didn't set the world on fire. 'Rangers would be better spending money bringing back Vaclav Cerny. 'Silky skills with the ball, scores goals and has European experience.' Rangers have new owners with deep pockets but Gordon Ashley, Ayr, said: 'Due to new FSR rules the only way that Rangers can catch Celtic financially is by qualifying for the Champions League a couple of times while Celtic don't or by taking over our player trading model, but looking at the bargains Celtic are close to signing from Denmark and England they are miles behind us on that front.' Euan Robertson emailed: 'Rangers fans are thinking they will reach the levels of Celtic from one year of the 49ers' money. Think again. It will take years for the Gers to overtake the pride of Glasgow.'
