CME: Force Majeure for Shipping Stations Due to Floods
CME declares force majeure for corn, soy shipping stations due to floods
CME Group Inc declared force majeure for all corn and soybean shipping stations because of flooding on the Illinois River, according to a notice from the exchange operator on Wednesday.
A majority of facilities on the river, which are delivery points for crops traded on CME's Chicago Board of Trade, are unable to load crops due to high water levels, the notice said.
(Reporting by Tom Polansek; Editing by Marguerita Choy)