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CME Group, B3 S.A. to offer Brazil soybean contract

The CME Group and Brazilian stock exchange B3 S.A. are teaming up to develop a Brazilian soybean futures contract.

A statement from CME Group says the creation of contract is in response to customer demand for regional hedging and price discovery tools which will represent the export price at Brazil’s port of Santos and be an extension of the mini-soybean futures and options contracts already listed on both exchanges.

If approved by regulators, the contract will launch in the third quarter of 2020.