Update: this news story seen prior on News From The Coffee Shop
The Commodity Futures Trading Commission has approved CME Group Inc.’s plan to raise the daily trading limits for Chicago Board of Trade corn futures to 40¢/bu. from 30¢ despite resistance to the change from members of the corn industry.
The new limits will go into effect on Aug. 22 for CBOT corn futures, corn options and mini-sized corn futures. Under the CME group proposal, the corn futures daily price limit will be expandable once to 60¢ when at least two contracts close at limit bid or limit offer on the previous trading day. The current 30¢ daily limit for corn futures is expandable to 45¢, then again to 70¢ when at least two contracts close at limit bid or limit offer.
As seen on Crop News Weekly Email
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