CHICAGO Feb 25 The daily trading limit for
Chicago Board of Trade oat futures and options will increase to
30 cents a bushel when the markets reopen after the front month
contract rallied the 20-cent limit to an all-time high of $5.03
This is the second time in less than a week that the CBOT's
parent, the CME Group Inc, expanded price limits.
The red-hot oat market continues to make new highs as delays
moving the grain out of Canada into the United States have
limited the amount available to process into food products or to
feed to livestock.
Record crops of wheat and canola, along with frigid weather,
overwhelmed Canadian National Railway Co and Canadian
Pacific Railway Ltd this winter, resulting in overdue
orders for tens of thousands of grain cars.
Technical buy signals, which triggered speculative fund
buying, coupled with light trading volume adds to market
volatility, traders said.
March oats, which trade at a fraction of the volume of CBOT
corn futures, closed at a 47-1/4 cent premium to CBOT March corn
, another first. Typically, corn is priced at a premium to