COMMODITY BRIEFS

COMMODITY BRIEFS

CME TO BEGIN LISTING

EUROPEAN STOCK INDEXES

CHICAGO - In an agreement with the London Stock Exchange, the Chicago Mercantile Exchange will list futures and options on the FTSE-100, Eurotrack 100 and Eurotrack 200 Share indexes at the CME.

The FTSE-100 is a capitalization-weighted index of the largest 100 U.K. companies actively traded on the London Stock Exchange.

The FTSE Eurotrack 100 index also is a capitalization-weighted index of the leading 100 stocks, but of the major European countries including the U.K. that are traded on the London Stock Exchange.

The FTSE-100 stock futures and options listings at the CME and CBOE are pending regulatory approval.

SOUTH AFRICA'S IMPALA

SHUTS PLATINUM MINE

JOHANNESBURG, South Africa - South Africa's Impala Platinum has decided to mothball its Messina platinum project, said Michael McMahon, managing director and Messina chairman.

The decision to call a halt to the project, which is only two years old, was based on "the cash resources of the company," Mr. McMahon said.

He said Impala Platinum needed to make a firm decision before the end of January on the next installment of funding for the project. Impala Platinum said last year it wanted to raise US$82.7 million (230 million rand) for the Messina project through a rights issue, but falling platinum and rhodium prices have convinced Messina that the market could not now support a rights issue.

Low platinum and rhodium prices, Mr. McMahon said, were dictating both the sentiment of the market.

WHEAT EXPORT CREDITS

SWITCHED FOR COTTON

WASHINGTON - The U.S. Department of Agriculture on Friday switched $10 million in fiscal 1992 GSM-102 export credit guarantees to Colombia to cotton from wheat.

This action reduced the line for wheat to $50 million from $60 million and increased the cotton credit line to about $13.1 million from $3.1 million, the USDA said.

To be eligible for up to three-year GSM-102 coverage, all sales under this line must be registered by Sept. 30, and exporters' contracts must call for shipments no later than Nov. 30, the USDA said.