It may seem far-fetched, but starting later this month, the Chicago Mercantile Exchange will start electronically trading snowfall futures and options.

This will be the third weather-related futures contract trading on the CME. First came temperature futures and then frost-day futures. The weather-related futures are generally used by cities and large businesses to help manage risk from weather on their businesses.

For more from the Washington Times, follow this link.

Source: Dairy Alert