Commonwealth Bank of Australia has launched a new suite of Australian Securities Exchange (ASX) grain swap hedging products, with the group claiming the move is an Australian first.
ASX grain swaps will provide a level of price protection in case the market moves in an unfavourable direction.
The bank will offer swaps referenced to ASX Milling Wheat, ASX Feed Barley, ASX Sorghum and ASX Canola.
The ASX grain swaps are the third new agricultural swap product the bank has introduced for its agribusiness customers in the past four months.
The banking group currently offers agricultural swaps with collateral margining and agricultural participating swaps.
