USDA Confirms No Report Release Time Shift Even if Grain Trade Hours Trimmed

March 6, 2013 12:34 AM
Untitled Document

via a special arrangement with Informa Economics, Inc.

Agency will not move release of key reports from current 11 am CT release time

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.

USDA will not shift its release time for key reports following the announcement this week by the CME Group that they will reduce trading hours for grain and soybean futures.

At this point we have no plans to change our release,” World Agricultural Outlook Board Chairman Jerry Bange told USDA Radio. “I think that the record will show the noon (ET) release has worked very well. The truth of the matter is I’ve gotten no complaints about it and it seems to be working very well now.”

The CME Group announced Tuesday they intend to trim grain trading hours as of April 8 if the Commodity Futures Trading Commission approves to the following schedule:

Details: Electronic trading would run from 7 pm CT to 7:45 am CT Sunday through Friday, with a break in trading Monday through Friday from 7:45 am CT to 8:30 am CT, with electronic trading resuming and floor trading taking place from 8:30 am to 1:15 pm CT. Daily settlements will take place based on market activity "at or around" 1:15 pm CT each day. Currently, electronic trade in grain and soybean futures runs from 5 pm CT to 2 pm CT and open-outcry trading from 9:30 am CT to 2 pm CT.

When the potential for a shift in trading times first surfaced earlier this year, USDA sources signaled the agency would not alter its release times for reports have just implemented the change to an 11 am CT release in January.

Comments: While officials have noted they haven’t received any negative comments on their current 11 am CT release time, sources said another factor in not changing the release time is that if they were to change release times to when markets were not open for trading, they could not rule out that the grain exchanges would simply alter trading times as the CME Group indicated that was likely to happen when USDA first examined their release of reports in 2012 in the wake of the expansion to a 21-hour trading day. 

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.






Back to news


Spell Check

No comments have been posted to this News Article

Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by
Brought to you by Beyer