Oct 17 - The CME's purchase of the Kansas City Board of Trade should provide investors with more opportunities to enter the wheat market, says Sam Nelson, Reuters Chicago commodities correspondent.
Whenever adult they and the Chicago markets rise today it was. Revealed that the Chicago Mercantile Exchange. And purchase the Kansas City board of trade. Not a huge surprise that to some it was a bit of a surprise because they expected the next. The next purchase to be at perhaps of Minneapolis grain exchange spring wheat futures market. It's the first time in five years at the Chicago mercantile exchange's -- major purchase. The last time they consolidated. The Chicago Board of Trade with the New York. Mercantile exchange. And it's it needs to with senator hagel about expanding their market share globally. It it is also an attempt by them to stay ahead of the competition from the inn -- on IntercontinentalExchange. Or ice market which has so much smaller exchange. Much smaller volume exchange. The analysts who have talked to and Chicago. Say it it will have very little if any impact on the weak markets in general. The other three major wheat futures markets traded in the United States or Chicago the soft red winter wheat market Kansas City and our -- -- -- market. And Minneapolis is spring wheat futures market. Although they say it has little impact on the wheat futures market that does impact the global market. Exchange says it's gives investors and other another asset class and asked him. Through the Chicago Mercantile Exchange.