First, I have to give credit to farmdocDAILY for today's research. As part of the University of Illinois' Department of Ag & Consumer Econ, they've hit the nail on the head this year. And that nail is farm costs. We're talking about cost cutting on the farm so get out your budgets and let's review. If your main worry is how long prices will remain this low, we've got some information regarding that too, so join us for 2016 preparations.
Now that you’re tuned into the basics of how the old world staked its name in trading, we can delve into the not-so-distant past. In this part two article, we're showcasing the progression of exchanges in the U.S. followed by a small section on perspective of trading today. Let’s begin with the nostalgic 1850’s.
July 6th, 2015 marked the day the CME grain pit closures took effect and after 167 years of trading and there is much to look back on. Not only the colorful jackets, mysterious hand signals and bold personalities, but a time honored tradition of how price is determined. Now is not the time to have pity and mourn the ending of an era, aptly named by Reuters. Instead, this is the opportune moment to review where price discovery has been and learn a bit about the innovations involved.