This afternoon Cody and Logan discuss the huge move in the wheat market in detail, and look at some production estimates out from Planalytics.
In response to "significant feedback" from producers, ranchers, commercial traders, and end-users, the CME group has scrapped plans to go to a 22 hour trade day. Their new plan to remain competitive with the ICE exchange's CBOT based contracts is a 21 hour trade day with a market close between 2:00PM and 5:00PM CST.
(full text of the announcement here)
For producers that want direct market access to CBOT grain futures when a traditional broker might not be available, it might be time to start looking at electronic trading platforms. At Grain Hedge we a have a great one, and many producers are starting to make the switch so they can place hedges and follow the markets - whenever the markets are open.
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THERE IS A SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES AND OPTIONS. FUTURES TRADING IS NOT APPROPRIATE FOR ALL INVESTORS. PLEASE READ OUR RISK DISCLOSURE.