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AGRIBUSINESS: USDA Changes Crop Report Release Time

Posted on: 1:55 pm, January 9, 2013, by , updated on: 03:13pm, January 9, 2013

The USDA last fall, after consultations with grain trade officials, decided to move report release times from 7:30 a.m. central time to 11:00 a.m. central time. 

This supposedly would be less disruptive to the open outcry trade since the report will be out after the pits are already trading rather than before. 

However, in reality, the later release time actually reduces the amount of time for the market to react to major reports, since there will now be only 3 hours of trade prior to the close instead of the previous 6 ½ hours.  Grain traders say the change benefited almost no one and harms virtually everyone.

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