Euronext.liffe will delay the launch of the September 2006 wheat futures contract in order to implement new European Union food safety standards, a spokeswoman for the exchange said on Monday. Euronext.liffe, part of pan-European bourse operator Euronext, said the September future and option contracts, both set to open on May 11, could be delayed by up to three months. A spokeswoman said the delay was aimed at implementing a new EU regulation on the maximum level of mycotoxins in food.
Mycotoxins are naturally occurring in a wide range of food and are caused by certain types of mould. Studies have linked high dose levels with renal disease and urinary tract tumours.
Trade sources said the wheat futures' reorganisation could also lead to the removal of the July contract, viewed as of little use by traders because of its proximity to the harvest, but Euronext denied such a move was imminent.
"On our side, there is nothing planned yet," she said.
One member of the expert committee reviewing the contracts said there would be further talks on these matters.
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