KANSAS CITY, MISSOURI, U.S. — Expanded trading hours for the Kansas City Board of Trade (KCBT), the CME Group and the Minneapolis Grain Exchange (MGEX) began on May 20.
KCBT's said expanded trading hours for its flagship hard red winter wheat futures and options contracts was effective with the business date of May 21, which began May 20 at 5 p.m.
In coordination with the CME Group, the new daily (Sunday through Friday) extended electronic trading hours will be 5 p.m. to 2 p.m. Central Time (CT) for hard red winter wheat futures and options.
Daily settlements will continue to be based on the 1:15 p.m. CT close each day. Wheat futures and wheat options will continue to trade by open outcry from 9:30 a.m. to 1:15 p.m. CT Monday through Friday.
MGEX said effective May 20, its trading hours will be from 5 p.m. to 2 p.m. Central Time (CT), Sunday to Friday.
“The revised 21 hour electronic trading day demonstrates MGEX’s commitment to the needs of our market participants who rely on the MGEX North American Spring Wheat contract for price discovery and risk management purposes,” said Rita Maloney, director marketing & communications, MGEX.
Beginning May 20, the expanded electronic trading hours for all MGEX futures and options contracts will be 5 p.m. to 2 p.m. CT, Sunday to Friday. Open outcry options trading hours are unchanged from 9:30 a.m. to 1:30 p.m. CT, Monday to Friday. Contract settlement period remains 1:14:00 p.m. to 1:14:59 p.m. CT.