CME Group, the world's largest and most diverse derivatives marketplace, today announced the implementation of variable storage rates for the CBOT Wheat futures contract, the world benchmark for wheat prices, beginning with the September 2010 contract expiration. These contracts are listed with, and subject to, the rules and regulations of the CBOT.
CME Group staff will monitor the September 2010/December 2010 wheat spreads immediately following the conclusion of the July 2010 contract delivery period. Based on market prices, the first variable storage rate could be implemented September 18, 2010. The variable storage rates will replace the seasonal storages rates.
