KANSAS CITY, Mo. -- Friday, June 28 is the last day of open outcry trading on the floor of the Kansas City Board of Trade. They are moving their operations from 48th and Main in Kansas City to Chicago, ending a long, storied history of financial success in the metro.
A group of Kansas City merchants founded the Board of Trade in 1856 as a place to trade contracts on hard red winter wheat. Hard red winter wheat is grown all throughout Kansas and it is primarily used to make bread.
For 157 years, the Board of Trade thrived in KC. In fact, it was the first financial institution to sell stock futures where merchants sell contracts predicting whether the future price of wheat will go up or down. But eariler this year, the Chicago Mercantile Exchange bought the Kansas City Board of Trade for $126 million, and it is now moving trading operations to Chicago. So an important part of Kansas City history ends on Friday at 8:30 a.m. It will pick up in Chicago on Monday.
They will continue to operate an electronic trading center in Kansas City through September, but after that, wheat trading in Kansas City will be just a memory.