The Commodity Futures Trading Commission will hold a public meeting in April to discuss recent events affecting the agriculture markets – including the lack of convergence between futures and cash prices, higher margin requirements and the impact on market participants, as well as speculators' and commodity index traders' role.
National Corn Growers Association representatives plan to attend to make the organization’s position clear, especially regarding increases in daily trade limits, which the organization opposes.
“We’ve met with the National Grain and Feed Association to discuss concerns regarding recent proposals from the Chicago Board of Trade and the Chicago Mercantile Exchange to increase in trade limits, and we want to make sure that we can work together for what’s best for our industry and our nation’s economy,” says Ron Litterer, NCGA president.
The forum is scheduled for 9 a.m. April 22, at CFTC’s Washington, DC headquarters. Participants will include representatives from USDA and a broad set of stakeholders in the agricultural markets, such as exchanges, traders, merchandisers and producers.
For more information on CFTC, go to www.cftc.gov.
Source: National Corn Growers Association