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