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ICE expands US commodities unit in challenge to CME

The move by IntercontinentalExchange comes as CME tries to repair the reputational damage caused from the collapse of MF Global

IntercontinentalExchange yesterday announced a big push into US agricultural futures, in a challenge to the dominance of CME Group.

Atlanta-based ICE is plans to launch futures in corn, wheat, soybeans, soybean meal and soybean oil in May, competing with long-established products offered by CME's Chicago Board of Trade unit. ICE lost out to CME in a bid battle for the CBOT.

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