Initially, the CME Group announced it would expand trading hours for its CBOT grain and oilseed futures and options beginning Monday, May 14, 2012, but because it failed to officially notify the Commodity Futures Trading Commission (CFTC) of its plan to expand its hours, the plan has been pushed back to May 21.

The exchange must submit a "self-certification" form disclosing its plan to the CFTC, and once that happens, it can't change hours for 10 business days. Today, the CME Group issued a new statement, saying "pending CFTC certification," 22-hour trade for those contracts will begin May 21.

Additionally, CME said Ethanol futures and options have been added to the mix of commodities that includes Corn, Mini-Sized Corn, Soybeans, Mini-Sized Soybeans, Wheat, Mini-Sized Wheat, Soybean Meal, Soybean Oil, Rough Rice and Oats.

The Minneapolis Grain Exchange (MGEX) and Kansas City Board of Trade (KCBT) also today announced expanded trading hours for all electronically traded futures and options, starting Sunday, May 20, for the trade date Monday, May 21. MGEX and KCBT electronically traded wheat futures hours will be the same as CBOT -- 6 p.m. to 4 p.m. CT Monday through Friday (5 p.m. to 4 p.m. CT Sunday and Monday).

At MGEX, trading hours for open outcry options remain unchanged -- 9:30 a.m. to 1:30 p.m. CT, Monday through Friday. The contract settlement period remains 1:14:00 p.m. CT to 1:14:59 p.m. CT. At KCBT, daily settlements will continue to be based on the 1:15 p.m. CT close each day. Open outcry trading hours for wheat futures and options will remain from 9:30 a.m. to 1:15 p.m. CT Monday through Friday.

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