Corn derivatives

Corn futures and options

Corn derivatives

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Corn Futures contract specifications
Corn Options contract specifications

Changes and enhancements to the Euronext Corn Contract

Euronext has announced additional delivery points for its Corn contract at Sica Nord in Northern France and Eurosilo in Belgium, from the November 2019 delivery month.

Euronext’s Corn Futures Contract was launched in 1999 as an FOB Atlantic sea basis contract for export only, to deal with surplus crop. In 2006, the contract switched to delivery in silos (DAP) to match the needs of domestic users in the French market more closely. Trading flows have evolved over the years since the inception of the contract, due to changes in domestic usage and supply and demand. As the EU has expanded to include more countries, so the relevance of our contract has expanded to cover the EU market.

Today, 60 million tonnes of corn is produced in the EU annually, but we import an additional 18 million tonnes on top of that.

Euronext is continually working to ensure that our Corn Futures Contract can act as an effective hedging tool, with strong convergence for commercial market participants. In the current environment, this involves capturing import flows into the Northern EU, and demand from the feed manufacturing industry in the Benelux area. The price of the contract must reflect that of the Rhine and Danube physical markets, thus enabling it to be used as an accurate hedging mechanism for coops, trading houses, processors, starch industry and animal nutrition producers in these regions.

In Euronext’s latest Corn Expert Committee meeting, the participants raised the idea of listing new delivery points in order to reflect the underlying EU corn markets more accurately. Following an extensive consultation, Euronext has announced new delivery points at Sica Nord in Dunkirk, Northern France, and Eurosilo, in Ghent, Belgium. These are now listed and available from November 2019 delivery month onwards.

To find out how these contracts can help in your hedging or investment strategies, please contact us: