What time is the closing price of the CME Corn market?

Discussion in 'Commodity Futures' started by isotope1, Mar 17, 2017.

  1. isotope1

    isotope1

    According to the contract spec, trading hours are:
    Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
    Monday – Friday, 8:30 a.m. – 1:20 p.m. CT

    It looks like the market closes twice on a given CT day. When I get a closing/settle price from Quandl/Interactive Brokers, what time is that exactly?

    What I'm trying to determine is when to poll the server for the next closing price.
     
  2. xandman

    xandman

  3. java

    java

    14:20 east coast time is the close. It opens at 20:00 et and that is when the daily gain or loss begins. The night session ends at 8:45 and then the RTH opens at 9:30, but the daily move is not reset, it just continues on the RTH open. Most charts only cover the RTH 9:30 to 14:20 that's why there is a big gap everyday. The close then would be the 14:20 price.
     
  4. isotope1

    isotope1

    That's very helpful, thanks.

    I'm trying to figure out why the historical prices I pull from Quandl and those I pull from Interactive Brokers are different. Any insight would be very helpful!
     
  5. java

    java

    I would consider the close published every day by the CME to be the official price. That's what is called the settlement price. ib may only be providing you with last trade which can be way off. Don't know for sure, but the cme settlement price is accurate.
     
  6. i960

    i960

    Your trouble here is purely about settlement prices or not. If you're trading daily/weekly, you could just go off of settlement and go from there. If you want more "data" you could consider everything and just pull overnight+RTH on RTH close.