CME Group/Chicago HQ
Local: +1 312 930 1000
Toll Free: +1 866 716 7274
Global Customer Contacts
Product inquiries, website issues,
and specific questions
Phone: +1 312 930 2316
Toll Free: +1 800 331 3332
More CME Group Direct Lines
Phone list by department
One of the worst U.S. droughts in 50 years is striking the Midwest, withering crops and sending corn and soybean prices to all-time record highs, and the extreme weather could last through harvest. According to the USDA, consumers can expect to pay up to 4% more for groceries next year as a result. Clearly weather is impactful, however it’s only one of the factors that affect the price of our food.
Effective markets are part of the solution to managing grain price volatility as a result of these factors behind food prices. Farmers use our futures markets to manage their price risk, and speculators play an important role in these markets. They take on that price risk in exchange for the opportunity to make a profit. In doing so, speculators are providing much-needed liquidity to hedgers and helping to discourage the swings in price volatility that might otherwise be much more severe without them.
Click to view full size infographic
We encourage you to use below embed code to Share this infographic on your site.