Transcript

Agricultural Advisory Committee Meeting, October 29, 1997

The CFTC's Agricultural Advisory Committee (AAC), Chaired by Commissioner Joseph B. Dial, will hold its Fall meeting on Wednesday, October 29, 1997, from 1:00 to 5:30 p.m. The meeting will be held at the Commission's Washington DC headquarters, at Three Lafayette Centre, 1155 21st Street N.W., in the first floor hearing room (Room 1000).

The meeting will continue the AAC's emphasis on risk management with a series of panels made up of agricultural producers and other private and public sector representatives, who will discuss "How do agricultural producers feel about risk management?" and "What will it take to motivate more producers to prudently manage their yield and price risks?" Craig Witt of USDA's Risk Management Agency will also report on USDA's recent Risk Management Education Summit in Kansas City.

Commission staff members will report on the status of the Commission's review of whether to lift the ban on the offer and sale of agricultural trade options.

The Committee will also hear presentations from representatives of the Chicago Mercantile Exchange and the Coffee, Sugar and Cocoa Exchange, regarding their respective flex options contracts and from a representative of the Chicago Board of Trade concerning CBOT's serial options contracts.

Commission staff members will also report on the status of: a proposal by FutureCom to establish a new electronic exchange for trading cattle futures; proposed changes to the CBOT Corn and Soybean Futures Contracts delivery terms; and delivery terms issues for the CBOT Wheat Futures Contract.

The membership of the AAC consists of 25 producer and agribusiness organizations. Their respective points of view on agriculture-related CFTC Policy issues are fully discussed during the semi-annual AAC meetings. For further information about the AAC meeting, contact Kimberly Harter at (202) 418-5050.