Release: #4596-02
For Release: January 15, 2002

Newsome to Chair Ag Advisory Committee

James E. Newsome, Chairman of the Commodity Futures Trading Commission, will serve as Chairman of the Commission's Agricultural Advisory Committee. The Agricultural Advisory Committee was created to advise the Commission on agricultural issues surrounding the trading of commodity futures and options and to serve as a communications link with the agricultural community. It is made up of representatives of national farm organizations, major commodity groups, agribusiness concerns, and agricultural bankers. It is one of three such Advisory Committees to the Commission.

In addition to the Agricultural Advisory Committee, there is a Global Markets Advisory Committee, chaired by Commissioner Barbara P. Holum, and a Technology Advisory Committee, chaired by Commissioner Thomas J. Erickson. The Global Markets Advisory Committee provides advice on the competitiveness of U.S. markets and U.S. firms engaged in global business. The Technology Advisory Committee identifies and analyzes the application of new technologies in the financial services industry and advises the Commission on the regulatory implications of such technologies.

Chairman Newsome, acknowledging the vital role played by Advisory Committee participants, observed that "this Advisory Committee is comprised of highly respected and distinguished agricultural leaders who have consistently shared valuable insights and opinions with the Commission on issues of particular importance to agricultural users of the futures and options markets. I am grateful for the time and effort they devote to this important endeavor."

The Agricultural Advisory Committee is composed of members representing the following organizations:

American Agriculture Movement, Inc.
American Agri-Women
American Bankers Association
American Cotton Shippers Association
American Farm Bureau Federation
American Soybean Association
Farm Credit Council
Independent Bankers Association of America
National Association of Wheat Growers
National Chicken Council
National Cattlemen's Beef Association
National Corn Growers Association
National Cotton Council of America
National Council of Farmer Cooperatives
National Farmers Organization
National Farmers Union
National Grain and Feed Association
National Grain Sorghum Producers
National Grain Trade Council
National Grange
National Pork Producers Council
North American Export Grain Association
North American Millers' Association
USDA - Risk Management Agency
U.S. Rice Producers Group