I.

Introduction

9:00 - 9:15 a.m.

II.

Convergence and Basis

9:15 – 10:00 a.m.

• History and Current Fundamentals of Convergence and Basis Problems

David Kass, Division of Market Oversight, CFTC (9:15 – 9:30 a.m.)

Christa Lachenmayr, Division of Market Oversight, CFTC (9:30-9:40 a.m.)

III.

Report, Proposal and Reactions

10:00 – 10:30 a.m..

• Report and Recommendations from the AAC’s Subcommittee on Convergence in Agricultural Commodity Markets

Andrei Kirilenko, Office of the Chief Economist, CFTC (10:00 – 10:15 a.m.)

• CBOT Proposal to Implement Variable Storage Rates on CBOT Wheat Futures Contracts Effective September 2010

David Lehman, CME Group (10:15 – 10:30 a.m.)

Break

10:30 – 10:40 a.m.

• Reactions

Matt Bruns, National Grain and Feed Association (10:40-10:50 a.m.)

Chad Burlet, Burlet Trading (10:50-11:00 a.m.)

• Questions to Panel and Discussion (11:00 a.m. - 12:20 p.m.)

IV.

Other Business and Closing Remarks

12:20 – 1:00 p.m.