July 2, 2010

Next Agricultural Advisory Committee Meeting to Examine Wheat Convergence and Other Topics

Washington, DC – Commissioner Michael V. Dunn, Chairman of the Commodity Futures Trading Commission’s Agriculture Advisory Committee (AAC) and Commissioner Jill Sommers visited the Kansas City Board of Trade (DCBT) this week to meet with representatives of the exchange to discuss convergence issues related to KCBT wheat futures contract. Wheat convergence will again be a topic at the next AAC meeting set to be held on August 5, 2010 at the CFTC’s headquarters in Washington along with the ICE Futures US Cotton futures contract and price reporting issues in livestock futures contracts.

Regarding convergence, the AAC will discuss the effects of the recently implemented variable storage rates on the Chicago Board of Trade’s wheat futures contract, and convergence issues in other wheat contracts, including KCBT’s. Commissioner Dunn has asked the AAC Subcommittee on Convergence to meet prior to the August 5, 2010 meeting date to discuss convergence issues.

Staff Contact
Jason Gizzarelli
(202) 418-5070
Office of Commissioner Dunn

Media Contacts
Scott Schneider
202-418-5174

R. David Gary
202-418-5085

Last Updated: July 2, 2010