External Meetings: Meeting with National Grain and Feed Association

We discussed the position limtis rulemaking and supplemental notice, including the definition of bona fide hedging, non-enumerated bona fide hedges, the 5-day rule, whether there should be time restrictions on anticipated production hedges, the meaning of a commercially reasonable time period to come into compliance in the context of a CFTC reversal of an exchange determination, the setting of exchange and federal limit levels, and cross commodity hedging,