Bowing to customer complaints, CME Group today announced it's reducing trading hours for grains and oilseeds from the current 21-hour trading day.
Beginning April 8, electronic and floor trading hours for CBOT Corn, Soybeans, Wheat, Soybean Meal, Soybean Oil, Rough Rice, Oats, and KCBT Wheat futures and options, plus all related CBOT and KCBT calendar spread options and inter-commodity spread options, will be amended as follows:
Sunday to Friday, electronic trading from 7:00 p.m. to 7:45 a.m. Central Time (CT)
Monday to Friday, break in electronic trading from 7:45 a.m. to 8:30 a.m. CT
Monday to Friday, floor and CME Globex trading from 8:30 a.m. to 1:15 p.m. CT
Daily settlements for CME Globex and floor trading of these products will be based on market activity at or around 1:15 p.m. CT each day. Mini-Sized Corn, Mini-Sized Soybeans and Mini-Sized Wheat will continue to trade on CME Globex and on the floor until 1:45 p.m. CT.
The Minneapolis Grain Exchange later in the day announced it would match CME Group's trading hours, starting April 8.