Market News & Headlines >> CBOT Grain, Oilseed Futures Limits Changes
Futures Exchange operator CME Inc. will reset price limits for Chicago Board of Trade grain and oilseed futures on April 30, effective for May 1 trade following a semi-annual review.
Daily price limits for CBOT corn and wheat futures will rise while soybean limits will not change, CME Group Inc said last Thursday.
Under exchange rules, the CBOT resets daily limits for grains and oilseeds in May and November of each year, based on a percentage of the average settlement price of benchmark contracts during a roughly nine-week observation period.
For corn futures, daily limit will rise to 30 cents per bushel from the current 25 cents. The limit for CBOT soft red winter wheat futures will rise to 40 cents per bushel from 35 cents, while the limit for K.C. hard red winter wheat will stay at 40 cents.
For soybeans, the daily limit will remain at 70 cents per bushel. For soymeal, the limit will stay at $25 per short ton, but the limit for soyoil futures will fall to 2.0 cents per pound from the current 2.5 cents.
The limit on rough rice futures will decline to 75 cents per hundredweight from 90 cents. The limit for oats will fall to 20 cents per bushel from 25 cents. Limits for all grain futures can be expanded in the session following a limit-up or limit-down settlement.