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Brazil's B3, S&P Dow Jones Indices launch commodities futures index – Reuters

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Brazilian stock market
operator B3 on Thursday launched the country’s first
commodities futures index in partnership with S&P Dow Jones
Indices, according to a statement.

With the launch of the Dow Jones/BM&F Commodity Index, B3
said it aims to expand its offerings for commodities derivatives
in Brazil, a large producer and exporter of agricultural goods
for world markets.

“This partnership will also strengthen B3’s position
internationally through the global distribution of the index,”
said Fabio Dutra, managing director for client and business
development at B3.

The commodities eligible to be included in the index in 2017
are the ones whose future contracts are already traded at B3:
crystal sugar, cattle, arabica coffee, hydrous ethanol, corn,
gold, oil and soy. The index will be rebalanced quarterly.

The initiative was presented by B3 executives during a
seminar in São Paulo organized by B3 and the Agriculture
Ministry.

Earlier in the day, the government said Brazil’s gross
domestic product (GDP) grew 1.0 percent in the first quarter
from the preceding one as the economy emerged from its worst
recession on record.

The rebound was led by the fastest increase in agricultural
output since 1996, following bumper harvests of soy and
corn.
(Reporting by Roberto Samora; Writing by Ana Mano)