CHICAGO — CME Group announced May 1 it will expand electronic trading hours in its Chicago Board of Trade grain and oilseed futures and options beginning May 14. This will expand market access to CBOT corn, soybeans, wheat, soybean meal, soybean oil, oats and rough rice futures and options on CME Globex to 22 hours per day.
Wheat traded lower in most of the session this week, except for March 30. Early selling was tied to improving conditions for the Southern Plains winter wheat crop and from position squaring ahead of the March 30 U.S. Department of Agriculture report while strength March 30 was because of a friendlier-than-expected acreage report from USDA.
The corn market gained 8 to 10 cents in both old and new crop contracts last week. Corn found support from smaller South American production and tighter U.S. old crop ending stock estimates. The U.S. Department of Agriculture will release its next monthly crop production and supply/demand report on March 9.
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