MONTREAL (ICIS)--The Chicago Mercantile Exchange (CME) started on Monday a new chapter in fertilizers derivatives trading with the launch of two Brazilian contracts, along with the ‘futurisation’ of the ICIS quotes listed.
The listed ICIS quotes will be:
- Urea granular bulk (spot): US Gulf short ton FOB*
- Urea granular bulk: Egypt FOB
- Urea granular bulk: Brazil CFR
- DAP Bulk: Nola short ton FOB barge
- MAP Bulk: Brazil CFR
DAP: diammonium phosphate. MAP: Monoammonium phosphate. FOB: Free on board. CFR: cost and freight.
After two years in the making, CME said it was confident that this new development in trading would lay a foundation for continued growth in its fertilizers business.
Prices are provided to the CME by ICIS and Profercy. More information can be found on CME’s website.
The IFA conference runs in Montreal on 11-13 June.
Pictured: The CME in Chicago
Source: Michael Weber/imageBROKER/Shutterstock