Exchange operator Euronext said on Wednesday its new premium-quality wheat futures will start trading on March 2.
Euronext had announced the new futures earlier this month, indicating an "early March" launch, as a way of bringing forward the introduction of higher-quality specifications due to apply for its existing Paris-based wheat futures as of 2017.
The exchange said in a statement it would offer an "exchange for future" functionality for six months, using its against-actuals facility, to register the transfer of trading positions between its existing No. 2 milling wheat contract and the new No. 3 contract.
Euronext announced an additional delivery silo, located at the northern port of Rouen and operated by trading house Lecureur.
The prospect of Euronext operating two wheat contracts in parallel and in competition with European wheat futures expected to be launched soon by CME Group has caused uncertainty and reduced volumes in forward positions, traders say.