CME to launch new Black Sea wheat contract in June

PARIS, April 29 (Reuters) - CME Group CME.O will launch a new Black Sea wheat futures contract in June that will track export prices in Romania and Bulgaria, the financial markets operator said on Tuesday.

The new product, which is subject to regulatory approval, will be linked to Argus Media's index of export prices for 12.5% protein wheat in the "CVB" zone that comprises the Romanian port of Constanta and the Bulgarian ports of Varna and Burgas, CME said in a statement.
Trading will start on June 2, it said.