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Harvest Public Media is a reporting collaboration focused on issues of food, fuel and field. Based at KCUR in Kansas City, Harvest covers these agriculture-related topics through an expanding network of reporters and partner stations throughout the Midwest.Most Harvest Public Media stories begin with radio- regular reports are aired on member stations in the Midwest. But Harvest also explores issues through online analyses, television documentaries and features, podcasts, photography, video, blogs and social networking. They are committed to the highest journalistic standards. Click here to read their ethics standards.Harvest Public Media was launched in 2010 with the support of a grant from the Corporation for Public Broadcasting. Today, the collaboration is supported by CPB, the partner stations, and contributions from underwriters and individuals.Tri States Public Radio is an associate partner of Harvest Public Media. You can play an important role in helping Harvest Public Media and Tri States Public Radio improve our coverage of food, field and fuel issues by joining the Harvest Network.

Last Call for Wheat Trading in KC

Julie Denesha/KCUR

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.

In October 2012, Chicago-based CME Group acquired the Kansas City Board of Trade. Operations move to Chicago as of July 1 – and the last call on the Kansas City trading floor takes place on Friday, June 28.

Harold Bradley, who has a long affiliation with the KCBT, said he wasn’t surprised when Chicago’s CME Group, which also owns the Chicago and New York Mercantile Exchanges and the Chicago Board of Trade, bought Kansas City’s exchange for $126 million.

"Money moves electronically," Bradley said. "And I can reach you immediately, if I’m a buyer of May wheat, and you’re a seller of May wheat, I don’t need to send an order to a stinking floor: your order is on a number of electronic venues and it trades out.

"So what that means is you have massive excess infrastructure. That used to serve the trading. It’s not that it was never important – it was vital, vital! But now, it’s expensive real estate."

Bradley started an investment career in the early 1980s as a floor trader at the Board of Trade. He went on to work at American Century, and then the Ewing Marion Kauffman Foundation (he retired as CIO in 2012).

The Board of Trade’s real estate, the building at 48th and Main, is up for sale with the acquisition by CME.

Laura Spencer reported on the story for Harvest Public Media.  You can read more and listen to the radio story on the Harvest Public Media website.