Settled prices of the first day of Black Sea Wheat futures trading
2012-06-07 14:25:55
On Wednesday, June 06, Black Sea Wheat futures BSW for September delivery were launched on the electronic exchange Globex, a part of CME Group. The opening price for September contract was set at level of USD 245/MT.
It should be noted that BSW futures trading became active only from the moment of CBOT opening.
The closing price of Black Sea Wheat contracts amounted to USD 254.5/MT that was USD 9.5 or 3.88% higher than the opening price. Black Sea Wheat futures were supported by strengthening of grain complex on CBOT and strong bid prices.
It's worth noting that spread between ask and bid prices of BSW was rather big – at USD 10-15/MT while the spread between ask and bid prices of US wheat approximated USD 7-7.5/MT.