CME at it Again - Think 2 p.m.
The CME Group keeps fiddling with trading hours, now comes word the exchange will expand the pit to 2 p.m., KC joins in.
Published: Jun 8, 2012
At a time when markets are seeing stability, the CME Group is working to get there…slowly. The organization announced Friday it would extend open outcry hours for CBOT Grain and Oilseed futures and options to 2 p.m. Central Monday to Friday. Daily settlements will move from 1:15 p.m. CT and will be based on market activity at or around 2 p.m. CT each day for Grain and Oilseed futures and options as well as Ethanol futures and options, the exchange announced.
Products included in the expanded hours are CBOT Corn, Mini-Sized Corn, Soybeans, Mini-Sized Soybeans, Wheat, Mini-Sized Wheat, Soybean Meal, Soybean Oil, Rough Rice and Oats futures and options, plus all related calendar spread options and inter-commodity spread options.
The CME Group keeps fiddling with trading hours, now comes word the exchange will expand the pit to 2 p.m. - matching the close with the e-quote close. Traders have been asking.The move follows the trading hours expansion launched May 21 that has electronic trade running from 5 p.m. to 2 p.m. daily. In addition, CME Group will expand open outcry to 7:20 a.m. on key USDA market report days and, pending review by the Commodity Futures Trade Commission, those expanded open outcry morning hours would start with the June 12 USDA reports.
The later afternoon open outcry close is slated to begin June 25, pending CFTC review.
Soon after CME made it's announcement, the Kansas City Board of Trade announced that the hard red winter wheat futures and options open outcry timing would change to end at 2 p.m. as well. This is all pending a CFTC review.
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Tagged: usda, winter wheat, hard red winter wheat