Euronext plans to launch wheat and corn futures with delivery in Constanta in June 2027

The European stock exchange Euronext plans to launch new futures contracts for Black Sea wheat and corn with physical delivery to the Romanian port of Constanta in June 2027.

The contracts will be denominated in euros and will provide for the supply of grain originating in the European Union. This was reported by Reuters with reference to Euronext representatives, writes MarketScreener.

The launch of new instruments should expand Euronext’s presence in the European grain market, which has historically been focused mainly on France, and take into account the growing role of the Black Sea region in international grain trade.

“We are observing changes and seeing how the eastern part of Europe is taking on an increasing share of export supplies,” said Caroline Bitton, director of commodity business development at Euronext.

According to her, the lack of correlation between grain prices in Western and Eastern Europe sometimes makes it difficult for Black Sea market participants to hedge price risks using existing Euronext futures.

Key parameters of the planned contracts:

• Physical delivery basis — Port of Constanta, Romania.

• ​​Contract size — 50 metric tons.

• Contract currency — Euro.

• Execution months — similar to current Euronext grain contracts.

• Wheat requirements — 12% protein content.

• Grain origin — European Union countries.

• Estimated launch of trading — June 2027.

At the initial stage, the exchange does not plan to offer options on new futures contracts.

Euronext is currently in talks with grain elevator operators to determine specific physical delivery points.

The new Euronext contracts will provide for the supply of grain originating in the European Union. The announcement does not mention the possibility of physical delivery of Ukrainian wheat and corn, as well as the conditions for participation of Ukrainian companies in the auctions.

For comparison, the American CME Group launched futures for Black Sea wheat in 2025, tied to the export prices of Romania and Bulgaria. Unlike the planned Euronext contracts, they provide for cash settlements without physical delivery of grain.

Euronext plans to launch new contracts in June 2027. The exchange is currently negotiating with elevator operators to determine specific delivery points.

As previously reported by USM, in October, a decrease in the rate of export of Ukrainian wheat through the Romanian port of Constanta was predicted.