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CME Resets Price Limits for Grain, Oilseed, Lumber Futures


The first of the two grain and oilseed price limit resets in 2021 that are stipulated by the variable price limits mechanism will take place May 2, 2021, according to the CME. (photo by mattgriffin, CC BY-SA 2.0)

In a recent press release, the CME noted that, effective Sunday, May 2, 2021, for trade date Monday, May 3, 2021, The Board of Trade of the City of Chicago, Inc. (“CBOT”) and Chicago Mercantile Exchange Inc. (“CME”) (collectively, “the Exchanges”) will reset price limits for grain, oilseed and lumber futures. This is the first of the two price limit resets in 2021 that are stipulated by the variable price limits mechanism pursuant to each product’s respective Rulebook Chapter.

The new futures price limits effective on trade date May 3, 2021, are shown in the table below and will remain in effect until the first trading day in November 2021, the press release noted. For financially settled (Platts) Black Sea Corn, Black Sea Wheat, Black Sea Sunflower Oil, FOB Santos Soybeans, Thailand Long Grain White Rice, and Australian Wheat, and for Random Length Lumber, there shall be no price limits during the contract month; for all other contracts below, there shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.



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