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EVENT: Commission Meeting Apr 22, 2008

  • Transcript

    Agricultural Forum, April 22, 2008

    View the webcast.

    Comments from the Public.

    Agricultural Forum Press Releases


      I. Price Discovery in the Agriculture Futures Markets

        a. Overview of fundamentals in markets
        b. Role of speculators, index funds and commercial hedgers
        c. The adequacy of transparency in the markets
        d. The adequacy of contract terms and conditions

      II. Hedging in the Agricultural Futures Markets

        a. Convergence of futures and cash prices
        b. Forward contracting in the current markets
        c. Role of agricultural swaps and other risk management tools

      III. Margin Levels (Performance Bond) and Agricultural Credit

        a. Role of margin and the clearing system
        b. Overview of agricultural credit and record margin levels
        c. Proper determination of margin
        d. Price limits and margin levels
        e. Credit market conditions and Ag lending outlook


    Head Table:

    Government/Academic Panelists:

      • Mark Keenum
      U.S. Department of Agriculture

      • Leland Strom
      Farm Credit Administration

      Jeff Harris
      Chief Economist

      John F. Fenton/Dave Kass
      Deputy Director of Market Surveillance, Division of Market Oversight/Industry Economist

      Gerald Bange
      USDA Office of the Chief Economist

      Esther George
      Federal Reserve Bank of Kansas City

      Eugene Kunda (Presentation)
      Asst. Director, Office for Future and Options Research, University of Illinois, Urbana

      Andrew Jacob
      Farm Credit Administration


    Charlie Carey
    , CME Group
    David Lehman, CME Group
    Thomas Farley, ICE Futures, U.S.
    Layne Carlson, Minneapolis Grain Exchange
    Roger Hipwell, Minneapolis Grain Exchange
    Seaver Sowers, American Bankers Association
    Samuel Miller, American Bankers Association
    John Kowalik, CalPERS
    Doug Hepworth, Gresham Investment Management LLC

    Bob Greer
    , PIMCO
    Robert Ellis, Ridgefield Capital

    Billy Dunavant
    , Dunavant Enterprises
    Andy Weil
    , American Cotton Shippers’ Association
    Joe Nicosia
    , American Cotton Shippers’ Association
    Chuck Coley
    , National Cotton Council of America
    Woods Eastland
    , AMCOT
    Wallace Darneille, AMCOT

    Tom Coyle
    , National Grain and Feed Association
    Jerry McReynolds, National Association of Wheat Growers
    Diana Klemme, Grain Service Corporation

    Garry Niemeyer
    , National Corn Growers Association
    Luke Lind, National Cattlemen’s Beef Association
    Steve Wellman,
    American Soybean Association
    Tom Buis
    , National Farmers Union
    Bob Stallman
    , American Farm Bureau Federation
    Mike Walter, Commodity Markets Council
    David Brown,
    American Bakers Association
    John Popp
    , Independent Bakers Association
    Jim Byrum, Michigan Agri-business Council

    Justin Towery
    , USA Rice Federation

    Last Updated: August 13, 2014