The CME Group is planning to increase the daily trading limit on Chicago Board of Trade’s (CBOE) corn trading, The Wall Street Journal reports. The limit for one-day gains or losses at the CBOE may be extended to 50 cents from 30 cents.
The limit can further be expanded to 70 cents, if the market finishes at the daily limit for a second day. The move will require approval from the U.S. CommodityFutures Trading Commission. The exchange previously increased the limit for corn in March 2008 with an increase to 30 cents from 20 cents.
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