Hurricane Sandy Pushes New York Stock Exchange to Halt Trading Since 9/11

Oct 29, 2012

World’s Largest Stock Exchange Closes, Agriculture Trading Won’t Happen Today and Maybe Tuesday

It’s probably safe to say that we’ve entered into a new era of trading, as it was announced today that the world’s largest stock exchange – the New York Stock Exchange (NYSE) will not be trading any futures today over the development of Hurricane Sandy, which is projected to hit New York City the hardest and has already responsible for 65 deaths in the Caribbean. The NYSE is responsible for futures trading in contracts in energy, agriculture and foreign exchange. The NYSE is expected to re-open again for business as usual on Tuesday, but some say it could be even later. It’s on a rare occasion that the NYSE would close - the last time it shut down operations was during 9/11.

Video: Did Bears Win Thanksgiving, Will Bulls Get Christmas?

Did the bears win Thanksgiving (although this week had green on the screen), and will the bulls get Christmas? Bears won thanksgiving thanks to a USDA Nov crop report dud that stalled the bullish grain momentum for a brief period. But a bullish lower yield surprise in the Dec crop report could reignite the rally.
2026 U.S. winter wheat planting is nearly complete at 97% while crop conditions improved by 3 points to 48% good-to-excellent. US corn & soybean harvest is complete.
High corn demand, which is off the chart, and more Chinese soybean demand could support a Christmas rally.
Nasdaq had it’s worst November since 2011.
A U.S. Fed rate cut in December will help fund flow and sentiment.
Bitcoin held a long-term support at 80,000 and that's positive for fund flow and sentiment. It should help stock prices and Ag as we go into December.
Fertilizer prices continue to climb as we look ahead to 2026. Farmers may rely more on the nutrients that they already have in their soils.
South American Weather remains critical as the soybean reproductive stage starts from late Nov to late Feb depending on planting date.
Will a Russia-Ukraine peace deal happen by year-end?
CFTC data as of showed more managed money fund sell-off as of October 14th.