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RELEASE: pr5474-08

  • Release: 5474-08
    For Release: March 19, 2008

    CFTC Announces Forum to Discuss Recent Events in Agricultural Markets

    Washington, DC – Today, the Commodity Futures Trading Commission (CFTC) announced it will convene a public meeting to discuss recent events affecting the agriculture markets – including the lack of convergence between the futures and cash prices, higher margin requirements and the impact on market participants, and the role of speculators and commodity index traders.

    “These historic market conditions, particularly in wheat and cotton, require the CFTC to hear firsthand from participants to ensure that the exchanges are functioning properly to discover prices and manage risk,” said CFTC Acting Chairman Walt Lukken.

    The forum is scheduled to begin at 9:00 a.m. on April 22, 2008 and will be held in the agency’s Washington, DC headquarters. It will include representatives from the U.S. Department of Agriculture and a broad set of stakeholders in the agricultural markets, such as exchanges, traders, merchandisers and producers. Further details on the forum will be made available in the coming weeks.

    Media Contacts
    Ianthe Zabel
    202-418-5080

    R. David Gary
    202-418-5085

    Last Updated: March 19, 2008

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