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Hurricane Sandy’s Impact on the Commodity Markets

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  • Description

    Trean’s Scott Shellady on how the hurricane is affecting commodity trading.

  • Duration 2:53
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This transcript is automatically generated

Cassandra Smith commodities they are trading today many of them because they were -- far from the storm in Chicago.

But the storm's effect on them are very very close just minutes ago the grain -- closed severance and it was right there and she's right there with -- -- -- the Santa.

OK yeah and actually this is the grain trading Larry here's -- a lot of operations have shut down the trading floor here is populated and just moments ago the grain trading like -- close it's everything from corn and corn to soybean futures -- wheat futures -- trade we've got actuality here.

Got any real -- first of all on the -- market.

-- a minor liquidation to -- arms -- because of a lot of the traders in command today so I would say some people took some cash prisons off the board but all of them up bitten.

Where the real action in the commodities markets was in the energy complex we we got refinery closures along the coast because of this storm.

We -- oil prices go down and are bought gasoline prices went where.

Why you know those things typically a lot of -- served went much do you know your congratulations your own worst enemy so we'll have to see how those things really play -- in the future but.

I still think it's gonna be that big of an impact I think the -- to post a lot more if there was really going to be -- -- What are you and other traders your colleagues what do you expecting for two -- -- -- -- in the morning and CME is not said yet whether or not these markets will be closed.

You know we're gonna have to be here for the grain markets are they are fixed income room might feel a bit different speculative failed ball Roman noted there are so right now we're gonna have a full staff and see with their exchange tells us.

How do you really position yourself then in him in the global marketplace where traders.

Can't anticipate whether or not the markets we open -- close what do you really do stock market -- knows going to be.

Well we don't really have a choice we just have to make sure that we we do have a -- for the wants to do so they were here and ready to do so whether that -- electronic moral and upright we have we have -- have a full staff -- full contingent.

And whatever happens happens but ultimately if there's just one customer you have to be -- Right and that being said volume obviously comes into play when you're looking at the commodities markets do you expect people to come back in this market remember folks the jobs report is coming out on Friday that has been confirmed the big government's -- -- -- -- the last one before the election.

And I could have a big impact but there's another thing we haven't really thought about here.

Wednesday's and the month.

So we really can't keep these things separate that long so we've got -- a month and that jobs report so we're gonna have to start getting things back on line here very soon what do you traders want to see ultimately be exchanged GO as far as trading is concerned.

Would like to be open and obviously it's also number -- a good advertisement for open outcry over -- around here with respondent -- jackets on but number two is that we wanna make sure that the public knows we're here and open for business.

It's alright they haven't got sell any trader Don -- Clark things are wrapping up in the green trading -- guys but energy still trading on the globex electronically.

-- relive it only takes a 45 minute break -- each trading data from 515 and 6 PM eastern time.

That is still plan -- -- on trading will begin an energy and gold markets nice.

That is that the CME doesn't change things between now and then we'll keep everybody abreast of that situation Sampras.

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