Argentina’s Rosario Futures Exchange is preparing to list a new set of physically settled futures and options on Argentine soybeans, an official at the exchange has told FOi. The exchange believes they will appeal more to international traders than its existing soybean contracts.
Javier Marcus, market development manager at Rofex, based in Buenos Aires, said the exchange had applied to the Comisión Nacional de Valores, Argentina’s futures markets regulator, for approval of the Soybean Up River Futures and Options.
The SUR contracts will be quoted in US dollars a metric tonne, but will be for 5,000 bushels (136.08 metric tonnes). The minimum price fluctuation will be $0.10 a tonne.
The contracts are based on the Grain and Feed Trade Association (Gafta) 38 grade of Argentine soybeans, delivered free on board, stowed and trimmed.
Final settlement of contracts that remain outstanding after the last trading day...