Changes in wheat futures

SHANGHAI: Zhengzhou Commodity Exchange (ZCE) has made fundamental changes to the terms of its hard wheat futures contracts to conform to the newly issued national standard for the grain.

The changes, which will take effect from March 24, will include a wider variety of wheat by lowering the benchmark qualification required for delivered wheat in futures trading.

In the past, delivery at the maturity of a contract was limited only to first- and second-grade white winter wheat. The new contract will lower the delivery requirements to include third-grade wheat planted in other seasons.