Harvest 2013 is complete and it has turned out to be one for the record books. After what was thought to be a subpar growing season, with cooler than normal temperatures through most of July and dry conditions in July and August, yields came in better than expected around the country and UFC’s receipts are evidence of a great crop produced in central Nebraska
As the 2012 crop marketing year winds down, we are seeing the volatility crank up. Not so much in the futures price, but in Basis. We are in the middle of unprecedented basis values for old crop corn, with numbers trading in the upper 180’s over the September futures at many locations around the country.
On Monday, April 8th, the CME changed the hours for grain futures trading from the 21 hours per day Sunday – Friday schedule. The new hours that the CME will trade are as follows: Sunday through Thursday open at 7:00 p.m. CST, close at 7:45 a.m. Monday through Friday, reopen at 8:30 a.m. and then close at 1:15 p.m. Monday through Friday.