Commodities Firms Complete Blockchain Pilot for Black Sea Wheat

Swiss-based Transoil International and Solaris Commodities have conducted a blockchain pilot transaction of Black Sea wheat, S&P Global reports Nov. 12. Both companies are involved in the trading of international agricultural commodities like milling wheat, vegetable oil and flour. The two firms completed the pilot using the blockchain-based agri-commodities trading and financing platform of Swiss startup Cerealia. Transoil and Solaris completed a sale for a 25,000 metric ton shipment of 11.5 percent protein Black Sea wheat on a FOB-loading port basis from the Russian port city of Novorossiysk. This is…