One of the most volatile price swings in wheat futures pounded a number of locals at Chicago Board of Trade (CBoT) and prompted speculation that one fund had also suffered heavy losses while the erratic trading temporarily shut down the exchange's E-CBoT platform last week.
The price moves, which were largly believed to be caused by large influxes of fund money, shut down E-CBoT last Monday and forced the exchange to re-price a number of floor-traded wheat spreads that were traded outside limits set by the exchange. It marked the latest hiccup the platform has had since moving its benchmark grains side-by-side with the floor on 1 August.
A number of locals and...