24th Meeting of the CFTC Agricultural Advisory Committee

October 29, 1997

1:00 PM Welcoming Remarks

1:05 PM- “How do agricultural producers feel about risk management?”

2:00 PM

PANEL I

MODERATOR:
Patricia Klintberg Farm Journal

PANELISTS:
Steve Oman American Farm Bureau Federation
Gary Hellerich American Soybean Association
Paul Hitch National Cattlemen’s Beef Association
Jim Miller National Wheat Growers Association

2:00 PM- “How do agricultural producers feel about risk management?” (continued)

3:00 PM

PANEL II

MODERATOR:
Sally Schuff Farm Progress Publications

PANELISTS:

Robert White National Grange
Rod Gangwish National Corn Growers Association
Jimmy Sanford National Cotton Council of America
Bill Kubecka National Grain Sorghum Producers
Richard Ellinghuysen National Farmers Organization

3:00 PM BREAK

3:10 PM Private & Public sector points of view: “What will it take to motivate more producers to prudently manage their price and yield risks?”

PANEL III

MODERATOR:
Roger Bernard Pro Farmer

PANELISTS:

Dave Miller American Farm Bureau Federation
Stu Ellis Illinois Farm Bureau Federation
Mark Lange National Cotton Council of America
Ken Stokes Texas A&M University
Paul Christ Land O’ Lakes, Inc.

4:10 PM Report on USDA's Risk Management Education Summit
Craig Witt, Risk Management Agency, US Department of Agriculture

4:30 PM Status of FutureCom proposal for a new electronic exchange
John Lawton, Division of Trading and Markets
Fred Linse, Division of Economic Analysis

4:40 PM Flex Options
Jorge Dorhliac, Coffee, Sugar, and Cocoa Exchange
Paul Petersen, Chicago Mercantile Exchange

5:00 PM Serial Options
Dave Lehman, Chicago Board of Trade

5:10 PM Status report on potential lifting of the ban on Agricultural Trade Options
Paul Architzel, Division of Economic Analysis

5:20 PM Status of proposed changes to the CBOT Corn and Soybean Futures Contracts delivery terms
Status of delivery terms issues for the CBOT Wheat Futures Contract
Paul Architzel, Division of Economic Analysis

5:30 PM OTHER BUSINESS / ADJOURN