Event: Other Events
Agricultural Forum, April 22, 2008
The CFTC released the agenda and the names of participants for the April 22 agriculture forum.
“These are extraordinary times in the agricultural commodity markets, and this forum is designed to bring all the different voices and views from around the marketplace together for discussion and consideration,” said CFTC Acting Chairman Walt Lukken. “The CFTC keeps a watchful eye on the markets and the upcoming forum will provide critical fact-finding and dialogue so we may better understand and evaluate the inter-related factors impacting the futures markets."
The forum is being held in the CFTC Hearing Room in Washington, D.C. It begins at 9 a.m. on April 22, 2008 – doors open at 8:30 a.m. Agenda and participant details are listed below:
I. Agenda |
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9:00-9:30 a.m. |
Opening Remarks |
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9:30-10:00 a.m. |
Presentation: John Fenton; Dave Kass; Gerald Bange |
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10:00-11:00 a.m. |
Roundtable Discussion: |
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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 |
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11:00 -11:15 a.m. |
Break |
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11:15-11:45 a.m. |
Presentation: Dr. Jeffrey Harris; Dr. Eugene Kunda |
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11:45 a.m.-12:30 p.m. |
Roundtable Discussion: |
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a. Convergence of futures and cash prices b. Forward contracting in the current markets c. Role of agricultural swaps and other risk management tools |
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12:30 -1:30 p.m. |
Lunch Break |
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1:30-2:00 p.m. |
Presentation: Andrew Jacob; Esther George |
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2:00-2:45 p.m. |
Roundtable Discussion: |
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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 lending outlook |
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2:45-3:00 p.m. |
Q&A; Concluding Remarks |
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II. Agriculture Forum Participants |
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Government/Academic Participants: |
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CFTC Acting Chairman and Commissioners Mark Keenum, U.S. Department of Agriculture Leland Strom, Farm Credit Administration Jeff Harris, Commodity Futures Trading Commission John Fenton, Commodity Futures Trading Commission Dave Kass, Commodity Futures Trading Commission Gerald Bange, U.S. Department of Agriculture Esther George, Federal Reserve Bank of Kansas City Eugene Kunda, University of Illinois at Urbana-Champaign Andrew Jacob, Farm Credit Administration |
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Invited Roundtable Participants: |
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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 Darnielle, 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 |
Media Contacts
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
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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 conditionsa. Convergence of futures and cash prices
b. Forward contracting in the current markets
c. Role of agricultural swaps and other risk management toolsa. 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
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