1.   And last month the London futures exchange announced that more of its open-outcry trading pits would close in April, to be replaced by electronic trading.

2.   Also at a board meeting yesterday, CBOT directors approved initial spending related to building trading pits for the new contracts.

3.   Now a study by the Federal Reserve says investors may need to look further than the commodity trading pits to figure out whether inflation is accelerating or slowing down.

4.   That prompted another rally in the wheat trading pits.