The whiners have won at the Chicago Mercantile Exchange. You won’t be able to buy grain or soy futures in the Windy City from 2:15 in the afternoon to 8 at night.*
CME Group Inc. will reduce its trading day in grain and soybean futures to 17½ hours from 21 hours, largely undoing a controversial expansion done last year….
The new hours come in response to criticism that the trading schedule had become bloated, increasing costs for grains traders and creating periods of low-volume, highly volatile trade.
Both open-outcry trading and electronic trading on CME’s Globex platform will begin on weekdays at 9:30 a.m. ET—an hour earlier than the current pit open. The market will close at 2:15 p.m. and will re-open at 8 p.m. for electronic trading and remain open until the following morning at 8:45 a.m.
The market currently trades electronically around the clock except for a three-hour break between 3 p.m. and 6 p.m.
Or was it always the CME’s cunning plan, a brilliant scheme to add 30 minutes to the trading day while making the peons happy**?
Prior to last year’s expansion the market was open 17 hours per day.
CME Group Cuts Grain, Soy Futures Trading to 17½ Hours [WSJ]
CME to reduce trading hours, reversing expansion [Chicago Tribune]
*If you really need an edamame contract in the late afternoon, the ICE will be happy to hook you up; it’s open 22 hours a day.
**No.
Footnotes! After ~6months OTJ, you're finally absorbing? Your a sponge Shaz, a sponge!
Don't pretend you know how to do footnotes
Grain traders barley know how to trade.
Alternative article title: Bess Begrudgingly Concedes 10 Minute Workday to Shazar (Carpal Tunnel from all of the Ctrl C + Ctrl V)
Good job. Good effort
A Methodist minister dies and is waiting in line at the Pearly Gates. Ahead of him is a guy who's dressed in sunglasses, a loud shirt, leather jacket, and jeans. Saint Peter addresses this guy, "Who are you, so that I may know whether or not to admit you to the Kingdom of Heaven?" The guy replies, "I'm Joe Slebnowitzky , famous grain broker and commodity advisor/pool operator doing business in the soybean pits of the CME……." Saint Peter consults his list. He smiles and says to the bean boker, "Take this silken robe and golden staff and enter the Kingdom of Heaven." The bean broker goes into Heaven with his robe and staff, and it's the minister's turn. He stands erect and booms out, "I am Joseph Snow, pastor of a United Methodist church for the last forty-three years." Saint Peter consults his list. He says to the minister, "Take this cotton robe and wooden staff and enter the Kingdom of Heaven."
"Just a minute," says the minister. "That man was a bean broker!!!!– he gets a silken robe and golden staff but I, a minister, only get a cotton robe and wooden staff? How can this be?"
"Up here, we work by results," says Saint Peter. "While you preached, people slept; his clients, they prayed out loud and constantly."
Shazar, I would like to meet you for a meal of food sometime.
Does anyone else just skip to the end of Shaz posts to see the hate? I do, then go back to see if it is justified. Reading the post is the worst part of my day.
-Mom
I see you’re still pushing further into negative territory–you do know that “digging your way to China” is a metaphorical old wise tale.
Worse than when Jon and his dog get home from work?
I'm long barley, and a lot of hops too. STFU
It takes energy markets to really separate the wheat from the chaff.
Like Shazar, this comedy is not to be confused with the cream of the crop.
minnetas ?
how will i know its you ?
You do know the expression is "wives tale"?
Apparently, I was trying to be politically correct…
http://www.urbandictionary.com/define.php?term=ol…
now I won't be….GFY
He has actually tagged it laziness
You will never be Jeff Macke.