SCB Group, the world-leading, low carbon commodity brokerage, is pleased to announce that it has brokered the first CBOT Black Sea Sunflower Oil Future’s trade on CME Group.

On April 20th, 2021, SCB arranged the very first Black Sea Sunflower Oil futures contract. The volume represented 3,000 metric tons: 1,000 tons for October, 1,000 tons for November and 1,000 tons for December and were traded at $1,120 a ton.

The contract is based on the FOB Ukraine sunflower oil price, financially settled and tradable for maturities up to May 2022. Among other benefits, the product is cleared by an exchange limiting the counterparty risk and each transaction is anonymous.

Arnaud Saulais, Oil seeds and Vegetable Oil Broker at SCB, commented: “Sunflower oil is widely traded globally and the whole vegetable industry (producers, traders, importers, industry) has now a strong hedging tool to manage its price risk. The contract is financially settled and well correlated with the physical market. We received a lot of positive feedback and I am convinced that liquidity will grow.”

“With the market for Black Sea sunflower oil continuing to develop, the demand for price risk management is growing too,” said Tim Andriesen, Global Head of Agriculture Products at CME Group. “Our Black Sea Sunflower oil futures contract provides a cleared solution that can help the market meet its risk management needs”.



Pauline Tainton, Marketing Manager, SCB + 41 22 365 5307