USDA Moves Reports to Noon Release

By CnAgri2012-09-21 19:16:49 Print

USDA announced Wednesday it is changing the times some of its most important statistical reports will be released, in response to changes earlier in the year making commodity trading a near-24-hour exercise.

The Department said the National Agricultural Statistics Service and World Agricultural Outlook Board will begin issuing the World Agricultural Supply and Demand Estimates report, in addition to reports on acreage, crop production, grain stocks, prospective plantings and small grains, at noon, rather than 8:30 a.m., beginning in January.

Livestock reports are currently released at 3 p.m., which will remain unchanged.

USDA sought public comments this summer on possible timing shifts following a cascade of trading hours changes at major U.S. markets.

In May, the InterContinental Exchange, known as ICE, began 22-hour-a-day trading for some commodities which prompted the CME Group, parent organization of the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange to also expand to near-continuous trading.

Farm groups have been concerned these changes could increase market volatility while making it more challenging for farmers and others hedging product on the markets to participate fairly.

USDA said the changes announced this week would allow for the greatest liquidity in the markets, provide the greatest access to the reports during working hours in the United States and equal access to data among all parties.