EMF in an Open Circuit?
A loop of wire, with the ends not touching nor connected to anything else, is this:







simulate this circuit &ndash; Schematic created using CircuitLab

If you look at the schematic, it even makes intuitive sense, graphically. As you can see at the gap between the capacitor "plates", the "wires" are not touching. That the plates (which are really just the wires that make up your loop) are really small and far apart doesn't make it not a capacitor: it just makes the capacitance very low, some picofarads at most.

Normally it's so low we can ignore it, but in this case, there's nothing else, so it's pretty key. When the magnetic flux through the loop changes, an EMF is induced just as you'd expect. Some current does flow, according to the governing laws of a capacitor:

$$ I(t) = C\frac{\mathrm{d}V(t)}{\mathrm{d}t} $$

Of course, with C = 1pF, the current will be very low indeed, and if the EMF isn't changing (\$\mathrm{d}V(t)/\mathrm{d}t = 0\$), then there is no current.