PARIS Feb 9 CME Group has added a grain
silo of cooperative group InVivo to a network of sites in
northern France that can act as delivery points for wheat traded
on CME's EU futures market launched last year.
InVivo's silo at La Grande Paroisse, southeast of Paris, was
approved as a delivery warehouse for CME as of Feb. 8, CME said
in a market notice posted on its website.
The silo, which will make up to 20,000 tonnes of storage
capacity available for CME deliveries, joins 16 other sites that
were approved by CME before the launch of its EU futures
CME, whose U.S. grain futures act as a price benchmark for
the world market, is challenging Euronext's European wheat
futures. Traders say the CME contract made a promising
start but saw activity fall off towards the end of last year.
(Reporting by Gus Trompiz; editing by Susan Thomas)