Event: Other Events

Transcript

Agricultural Forum, April 22, 2008

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Comments from the Public.

Agricultural Forum Press Releases

• CFTC Press Release 5489-08, April 21, 2008

• CFTC Press Release 5486-08, April 15, 2008

• CFTC Press Release 5484-08, April 10, 2008

• CFTC Press Release 5474-08, March 19, 2008

Agenda

I. Price Discovery in the Agriculture Futures Markets

II. Hedging in the Agricultural Futures Markets

III. Margin Levels (Performance Bond) and Agricultural Credit

• 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

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

  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

Presentations

Head Table:

• Acting Chairman Walter Lukken

• Commissioner Michael Dunn

• Commissioner Jill Sommers

• Commissioner Bart Chilton

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

Participants

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