CME Group Permanently Closing Physical Trading Pits

CME Group announced this week it will not reopen its physical trading pits that were closed last March due to the outbreak of the COVID-19 pandemic. This includes the trading pits for corn, wheat, soybeans and other ag commodities. Contracts for ag commodities will be traded only electronically. However, CME Group’s Eurodollar options pit, which […]

CME Announces New Boxed Beef Index

CME Group recently began publishing a new Boxed Beef Index. The index is designed to provide the beef industry with better price discovery. CME Group’s Tim Andriesen said the idea for the index started with the Port Cutout futures and options launched late last year. “As you know, we launched the Pork Cutout futures and […]

What Could The Farm Economy Look Like Into Early 2021?

What long-term impact could we see on the farm economy from the struggles of 2020? Tim Andriessen of CME Group said volatility in the commodity markets  this year may continue in some areas next year. “A positioning of the global grain markets that we don’t have the excessive supplies that  we thought we do. Which […]

CME Launches First Ever Water Futures

On September 17th, CME Group and Nasdaq announced plans to launch the first-ever water futures contract based on the Nasdaq Veles California Water Index. Farmers and ranchers know the importance of keeping an eye on grain and livestock futures markets. And, water scarcity is one of the biggest challenges we face in the 21st century. […]

Coronavirus Impacting Agribusiness, Trade

The CME Group physical trading floor will close due to the coronavirus. Much of today’s trade is done electronically. Trade on the floor will end at the close of Friday’s trading session, and all trading will take place on the GME Globex. CME Group said the action is “a precaution to reduce large gatherings that […]

National Cattlemen’s Foundations Accepting Scholarship Applications

The National Cattlemen’s Foundation is now accepting applications for 2020-2021 beef industry scholarships sponsored by CME Group.  Announced this week, the ten scholarships of $1,500 each will be awarded to students pursuing careers in the beef industry.   The CME Beef Industry Scholarship was first introduced 30 years ago.  Today, the scholarship recognizes and encourages […]