The Kansas City Board of Trade announced Thursday its submission with the CFTC to eliminate the early start time of open outcry trading for the KCBT's flagship hard red winter wheat futures and options contracts on USDA report release dates effective Jan.1, 2013. Open outcry trading will open at 9:30 a.m. CT on these days, as it does on all other trading days (Monday-Friday).
Beginning on June 12, 2012, open outcry sessions opened at 7:20 a.m. CT on USDA report release dates with USDA reports being released at 7:30 a.m. CT. This change was made because KCBT electronic trading was available during the USDA release time. However, on Sept. 19, the USDA announced that key statistical reports would be released at 11:00 a.m. CT beginning in January 2013, rendering the earlier open outcry opening time unnecessary. Therefore, the open outcry opening time will return to the later 9:30 a.m. CT time.
Wheat futures and wheat options electronic trading hours (Sunday through Friday) are 5:00 pm to 2:00 pm CT for Hard Red Winter Wheat futures and options.