Concerns About Expanded Trading Hours
The announcement that CME Group will expand electronic trading hours for CBOT grain and oilseed futures to 22 hours a day is causing some concern. For one thing - USDA's National Agricultural Statistics Service and its board are looking at the implications for the agency's report calendar. Speaking of USDA reports - the National Grain and Feed Association says there is significant concern about the market being open during the release of crop reports. They say there could be competitive advantages for firms or individuals who can access and process report information earlier than others. The group also voices concern about added personnel costs to monitor markets around the clock. There are questions about the way grain elevators will handle buys from farmers and how the prices will be pegged as well.
© 2013 Rural Radio Network. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information