Trading Australian futures will start on July 24 after the approval of the regulator. Will be cash deals, without physical delivery.

"Australia is very important for the wheat market, it is one of five world exporting countries, and this contract really completes our series of contracts for wheat," said Nelson low, Executive Director of CME for the agricultural products.

Currency contract – United States dollar, the standard lot is 50 tons. The contract will be traded as on the CME and OTC markets.

CME will compete with the Australian stock exchange ASX where a trading futures for wheat in Eastern and Western Australia.

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