CFTC allows CME to open early for crop reports

chicago / reuters / The Commodity Futures Trading Commission approved the Chicago Board of Trade’s plan to start open-outcry grain trading early on days the U.S. government issues major agricultural reports, a commission spokesman said June 11.

CME Group, owner of the CBOT, told the CFTC it wanted to start pit trading at 7:20 a.m. CDT, instead of the traditional opening time of 9:30 a.m., when the U.S. Department of Agriculture issues major reports.

The CFTC did not object to the change after a 10-day review of the plan. The change was to take effect on June 12.

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