The open pit trading of winter wheat at the Kansas City Board of Trade has quieted down during its 157 year history, not quite silenced from its loud, rowdy past, when one journalist wrote that traders were “yelling as if a panther were at them.”
But on Friday (June 28) it will go silent, with the final ring of the trading day at 1:15 p.m. Central time, ending an era when this city put its name on a crop that became the crucial piece of our daily bread.
In October 2012, Chicago-based CME Group acquired the Kansas City Board of Trade, the more than 150-year-old wheat exchange. Operations move to Chicago as of July 1 – and the last call on the Kansas City trading floor takes place on Friday. We take a look back at the long history of the Board of Trade – and the end of an era.
For 157 years, the price of most wheat grown on the plains has been set by the Kansas City Board of Trade. That will soon come to an end.
Some of the famous names Kansas City – Kemper, Latshaw, Ohlmann – were people who at one time were chairman of the Kansas City Board of Trade. Since 1856 the KC Board of trade has been home for commodity trading, such as hard red winter wheat, and as that history comes to an end on Friday Michael Braude, former President & CEO of the KCBT and Frank Stone, Chairman in ‘07, President of Clearing Corporation in ‘88 & ‘04, explore the impact the board of trade has had on the region and what the implications are for its closing.
The Kansas City Board of Trade is slated to close its trading floor on June 28 after more than 150 years in Kansas City. In December, CME Group bought the exchange and plans to move operations to Chicago. The Board of Trade building at 4800 Main is on the market, including one of Jac T. Bowen's sculptures.