The Commodity Futures Trading Commission (CFTC) continues to get a lot of pushbacks on a proposal to expand agricultural futures trade to 24 hours a day, seven days a week. CFTC maintains that a 24-hour, seven-day-a-week trade would make the market more vibrant and reflect the changing dynamics in world trade. They add, though, it is open to a 24-6 or even 24-5 format.
Now, the proposal is open for public comment. So far, the ag public almost uniformly against such a move. National Grain and Feed Association says 24-hour trading would disrupt the market and cause even more risk management in a market that’s already full of unnecessary risks.
Brokers add no pause or any close in the market would affect deliveries. This is the Bottom-Line report.
Wishing you a profitable day. Mark Opold reporting for Southeast AgNet.