In This Issue
1. New Trading hours for Grain Futures
2. TTN April-May 2013 Outlook: THIS Time Its Different…
3. Economic Calendar
Effective Sunday, April 7, 2013 (trade date Monday, April 8), all CBOT, KCBT and MGEX Grain and Oilseed Futures and Options will reduce electronic trading hours on CME Globex.
The trading hours for CBOT and KCBT will be:
Sunday-Friday: 19:00 to 07:45 CT
Monday-Friday: Break from 07:45 to 08:30 CT
Monday-Friday: 08:30 to 13:15 CT, Mini-Sized Grains: 08:30 to 13:45 CT
Pre-Opens (including MGEX):
Sunday Night: 16:00-19:00 CT
Monday-Thursday Night: 16:45-19:00 CT
Monday-Friday morning: 08:15-08:30 CT
Post Close Pre-Open:
Monday-Friday: 14:30-16:00 CT
*Please note that during the Break from 07:45 to 08:30 CT, the timeframe from 07:45 to 08:15 CT allows for Order Cancellation Only. No Order Entry or Modification is permitted.
The last 15 minutes of the break from 08:15 to 08:30 CT allows for Order Entry, Modification and Cancellation until the final 30 seconds which is a No Cancel period.
The impacted CBOT and KCBT products are as follows:
ZC Corn Futures and Options
XC Mini-Sized Corn Futures
ZW Wheat Futures and Options
XW Mini-Sized Wheat Futures
ZS Soybean Futures and Options
XK Mini-Sized Soybean Futures
ZM Soybean Meal Futures and Options
ZL Soybean Oil Futures and Options
ZO Oat Future and Options
ZR Rough Rice Futures and Options
DDG Distillers Dried Grain Futures
EH CBOT Ethanol Futures and Options
KE KCBT Wheat Futures and Options
From our friends at TradeTheNews.com
The next two months will be about whether 2013 can break some of the patterns seen in the last few years. 2011 and 2012 both began with great optimism, getting off to strong starts with improving economic indicators, only to falter in the second quarter. Hope springs eternal and expectations are that this year will break that pattern and avoid the spring slump. The US economy is showing particularly good signs -employment trends are on a better than expected trajectory and confidence indicators are largely on the rise. Japan, where the tsunami disaster derailed recovery hopes in March 2011, is now riding high on hopes that an unprecedented stimulus program will move its economy into a higher orbit after a two decade stall. Neighboring China is entering a more subdued phase for its economy as a new government seeks to put its imprimatur on the world's second largest economy. Europe has tamed its crisis in the last year, though events in Cyprus last month made it clear there's more work to do, and economic stagnation is worsening in some parts of the continent.
One key difference this year is that central banks are more active than ever. As the fiscal authorities continue to struggle with right-sizing their austerity programs, the economic recovery clearly rests on a cushion of monetary stimulus. Central bankers in the US, Japan, England, and the Euro Zone have all committed to record stimulus programs and some are ready to take it even further.
Japan Takes a Different Tack
April starts off with a bang as Japan's fiscal year begins, and the BOJ holds its first policy setting meeting under new management. At the April 3-4 BOJ policy meeting, newly minted governor Kuroda is expected to set his plan in motion, which could include pooling monthly bond purchases and the asset purchase fund, and using the funds to buy more longer dated debt. He may also accelerate the start date of open ended asset purchases that are currently slated to begin next January..
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 04/08 Mon |
FN: Apr Live Cattle(CME) LT: May Sugar-16(ICE) |
|
| 04/09 Tues |
9:00 AM CDT - Wholesale Inventories(Feb) | FN: May Sugar-16(ICE) |
| 04/10 Wed |
6:00 AM CDT - MBA Mortgage Purchase Index 9:30 AM CDT - API & DOE Energy Stats 11:00 AM CDT - WASDE Report & Crop Production 1:00 PM CDT - FOMC Minutes 1:00 PM CDT - Treasury Budget(Mar) 3:00 PM CDT - Dairy Products Sales |
|
| 04/11 Thurs |
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Export & Import Prices(Mar) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
|
| 04/12 Fri |
7:30 AM CDT - Core PPI & PPI(Mar) 7:30 AM CDT - Retail Sales(Mar) 8:55 AM CDT - Mich Sentiment(Apr) 9:00 AM CDT - Business Inventories(Feb) |
LT: Apr Lean Hogs(CME) Apr Eurodollar Options(CME) Apr Lean Hogs Options(CME) May Cotton Options(NYM) May Coffee Options(ICE) |
| 04/15 Mon |
7:30 AM CDT - NOPA Crush 7:30 AM CDT - Empire Manufacturing(Apr) 8:00 AM CDT - Net Long-Term TIC Flows(Feb) 9:00 AM CDT - NAHB Housing Market Index(Apr) |
LT: Apr Eurodollar(CME) May Sugar-11 Options(NYM) |
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.