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Paris Wheat, Rapeseed and Corn Deposits Cut After Prices Drop

Feb. 18 (Bloomberg) -- LCH Clearnet SA, the French arm of Europe’s biggest clearinghouse, will lower the deposits it demands from clients to trade wheat, corn and rapeseed futures on NYSE Liffe in Paris after prices dropped in past months.

The margin for milling wheat futures will fall to 800 euros ($1,067) per contract from 900 euros, LCH.Clearnet wrote in a statement on its website Jan. 15, while those for rapeseed will drop to 1,100 euros from 1,200 euros.

Milling wheat for March delivery has declined 8.8 percent in the past three months in the French capital to 244.25 euros a metric ton, while corn slumped 12 percent. Rapeseed for delivery in May has dropped less than 1 percent.

Margin requirements for corn will drop to 750 euros from 850 euros, the clearinghouse said. The deposit for malting barley remains at 1,250 euros.

The changes will come into effect with the margin call tomorrow morning for positions open at the close of today, LCH.Clearnet wrote.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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