As many of you know, UFC has only been buying grain when the CME has been open and trading. Since the market has been trading 21 hours a day, we believe that it has been the right thing to do for all involved.
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.
Because of the trading hours change by the CME, and because UFC’s Grain Originators are working with producers to help market grain, we have changed the hours that we buy grain. UFC will buy grain from 8:00 a.m. until 5:00 p.m. Monday through Friday. Each day from 1:15 to 2:00 we will reset our bids and will buy grain only when the new bid sheet comes out that day. During very volatile times, we may not have a bid if the market is not open and will again take protection at times if we feel necessary. We prefer that producers market their grain when the market is open and trading as it gives UFC a chance to limit our risk exposure, but also understand that there are times that you want to market after the market closes.
If you have any questions, please call me at 402-362-8450 or contact your grain originator: Maxine Goelz – 402-527-5511; Josh Gartner – 402-362-8459; Rusty Morehead – 402-362-8458; Tyler Kester – 402-362-8426; Lori Wyman – 402-362-8449