CME shuts down wheat-trading pit in Kansas City

06/28/2013 | Bloomberg · Kansas City Star (Mo.), The

CME Group has decided to eliminate face-to-face wheat-futures transactions in Kansas City, Mo. CME, which acquired the Kansas City Board of Trade last year, will shift transactions to the Chicago Board of Trade. "There are more people that trade in Chicago and have the rights to trade all the different contracts, so if you stick the KCBT contract in there and make it part of the menu, you might pick up people who previously hadn't been trading Kansas City wheat," according to William Tierney, the chief economist at AgResource.

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Bloomberg · Kansas City Star (Mo.), The

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