CME Group announced it has received CFTC approval to offer expanded electronic trading hours in its CBOT grain and oilseed futures and options beginning Sunday, May 20 for Monday, May 21 trade date. Hours will expand from the current 17 hours per day to 21 hours per day on CME Globex from 5:00 p.m. to 2:00 p.m. CT Sunday to Friday.
Products included in the expanded hours are CBOT Corn, Mini-Sized Corn, Soybeans, Mini-Sized Soybeans, Wheat, Mini-Sized Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and Ethanol futures and options plus all related calendar spread options and inter-commodity spread options.
Daily settlements will continue to be based on market activity at or around 1:15 p.m. CT each day. Additionally, open-outcry trading hours will continue to operate from 9:30 a.m. to 1:15 p.m. CT Monday to Friday.
CME adjusted their original plan of a 22 hour trading window in response to an outcry from grain groups that complained 22 hour trading would increase costs. The groups supported the revised plan for 21 hour trading.
MGEX also announced it has received CFTC approval to expand its trading hours. Mirroring CME trading hours, MGEX will trade from 5:00 p.m. to 2:00 p.m. CT Sunday to Friday, beginning on May 20.
Source: CME Group & MGEXShare