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CBA launches agri risk management product

CBA launches agri risk management product

(20 June 2007 - Australia) Commonwealth Bank has launched a suite of ASX Grain Swap hedging products for producers and consumers. "Global grain prices are now at the highest level in over a decade so some excellent hedging opportunities exist for producers at present," CBA head of Commodities Research Tobin Gorey said.

The ASX Grain Swaps will provide price protection and risk management for producers and consumers with grain exposures.

"Grain producers and consumers both have an exposure to price movements and are always seeking hedging solutions to suit their individual needs," CBA executive general manager, Agribusiness, Jon Sutton said.

"By using these grain swap products, one thing they can be certain about is price and that’s incredibly important; producers can lock in the selling price while consumers can lock in the purchase price."

The bank will offer swaps referenced to the local ASX Milling Wheat; ASX Feed Barley; ASX Sorghum; and ASX Canola.
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