Euronext to expand wheat futures delivery to French Atlantic coast

PARIS: Euronext will expand from next year its network of physical delivery points for wheat traded on its wheat futures market to include France's Atlantic coast, the exchange said on Wednesday.

Euronext's milling wheat futures, a price benchmark for the European grain market, can currently be delivered to silos in the northern French ports of Rouen and Dunkirk.

From September 2020, physical delivery will also be possible to the Sica Atlantique storage facility at La Pallice, France's largest Atlantic grain port, and InVivo's silo at Montoir, another west coast port, Euronext said.

From September 2021, Euronext will also include InVivo's silo at the port of Nantes, which is close to Montoir, in its delivery network, it said in a market notice.

Between September 2020 and 2021, there will also be a provision to allow users to switch delivery from Montoir to Nantes, Euronext added.

The widening of wheat delivery to the Atlantic coast had been under discussion as part of Euronext's efforts to reinforce participation in its grain markets.

The exchange is also extending delivery options for its maize (corn) futures, previously limited to southwest France, to include several locations in northern Europe.