CME Group Inc. has made plans to raise the daily price limits on Chicago Board of Trade corn contracts by 33%, to 40 cents per bushel from 30 cents per bushel.

CME Group has said the raise is necessary due to a surge in grain markets and increased volatility. The CBOT originally submitted a proposal for a 50-cent raise to the U.S. Commodity Futures Trading Commission, which must approve any suggested raise, in April.


Some commercial traders opposed the change, but according to experts, the proposal is expected to be approved by the CFTC.