Agricultural Advisory Committee Meeting (852010) Part 3

CFTC's Agricultural Advisory Committee to Meet August 5, 2010
Committee discussed cotton, livestock and convergence in wheat markets.

Washington, DC -- The Commodity Futures Trading Commission (CFTC) convened a meeting of its Agricultural Advisory Committee (AAC) on Thursday, August 5, 2010, to obtain the views of agricultural futures market experts, national farm organizations, major commodity and agribusiness groups and the farm banking community. The major topics for discussion were the ICE Futures US cotton contract, wheat convergence in both the Chicago and Kansas City futures contracts and price reporting in livestock markets.

The meeting was chaired by CFTC Commissioner Michael V. Dunn, who serves as Chairman of the Committee.

Specifically, the AAC:

Discussed the delivery point study commissioned by ICE Futures US for the Cotton No. 2 Contract;

Examined the recent implementation of variable storage rates on the Chicago Board of Trade wheat futures contract;

Reviewed recent trends in the Kansas City wheat futures contract; and

Heard from staff at both the CFTC and USDA plus industry experts on recent issues in livestock reporting.

Links to reports, presentations, and statements are attached to the meeting agenda in the Related Links section on the CFTC's website.

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• 852010Part3