04:08 AM EDT, 08/28/2024 (MT Newswires) -- CME Group ( CME ) said early Wednesday that it plans to launch two new wheat spread futures contracts on Oct. 14, pending regulatory review.

The company said the Euronext Milling Wheat No. 2 Spread futures contract and the KC HRW Wheat will each be US dollar-denominated in metric tons.

The contracts will be based on the spread between either CBOT Wheat futures prices, or KC HRW Wheat futures prices, and Euronext Milling Wheat No. 2 futures prices.

"These new spread futures contracts will eliminate the need to transact and clear on multiple venues, allow clients to trade these products in a single currency and expand access to these important benchmark markets," said John Ricci, global head of agriculture products at CME Group ( CME ).

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