[Federal Register: February 10, 2000 (Volume 65, Number 28)]
[Notices]
[Page 6591-6592]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10fe00-44]
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COMMODITY FUTURES TRADING COMMISSION
Minneapolis Grain Exchange: Proposed Amendments to the Quality
Specifications of the Durum Wheat Futures Contract
AGENCY: Commodity Futures Trading Commission.
ACTION: Notice of availability of proposed amendments to contract terms
and conditions.
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SUMMARY: The Minneapolis Grain Exchange (MGE or Exchange) has proposed
amendments to the Exchange's durum wheat futures contract. The proposed
amendments would revise the futures contract's quality specifications.
The proposed amendments were submitted under the Commission's 45-day
Fast Track procedures which provides that, absent any contrary action
by the Commission, the proposed amendments may be deemed approved on
February 24, 2000--45 days after the Commission's receipt of the
proposals. The Acting Director of the Division of Economic Analysis
(Division) of the Commission, acting pursuant to the authority
delegated by Commission Regulation 140.96, has determined that
publication of the proposed amendments is in the public interest, will
assist the Commission in considering the views of interested persons,
and is consistent with the purposes of the Commodity Exchange Act.
DATES: Comments must be received on or before February 25, 2000.
ADDRESSES: Interested persons should submit their views and comments to
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 21st Street, NW Washington, DC 20581. In addition,
comments may be sent by facsimile transmission to facsimile number
(202) 418-5521, or by electronic mail to [email protected]. Reference
should be made to the proposed amendments to the MGE durum wheat
futures contract.
FOR FURTHER INFORMATION CONTACT: Please contact John Bird of the
Division of Economic Analysis, Commodity Futures Trading Commission,
Three Lafayette Centre, 21st Street NW, Washington, DC 20581, telephone
(202) 418-5274. Facsimile number: (202) 418-5527. Electronic mail:
[email protected]
SUPPLEMENTARY INFORMATION: The futures contract currently calls for the
delivery of durum wheat meeting specified quality requirements. These
existing requirements, with one exception, meet or exceed the standards
for U.S. grade No. 2 hard amber durum wheat. In addition, the contract
sets forth standards for protein content, falling number, moisture
content, dockage, and hard vitreous amber kernels which are not
specified in the official U.S. standards for grain. The proposed
amendments would make the contract's standards conform to the
requirements for U.S. No. 2 hard amber durum wheat and would reduce the
contract's standards for protein content, falling number, and hard
vitreous kernels. The proposed and current quality specifications are
shown in the table below.
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Grade factor or quality standard Current specification Proposed specification
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Minimum Test Weight.................... 60 lbs. per bushel 58 lbs. per bushel
Maximum Heat Damaged Kernels........... 0.2% 0.2%
Maximum Total Damaged Kernels.......... 2.0% 4.0%
Maximum Foreign Material............... 1.0% 0.7%
Maximum Shrunken and Broken Kernels.... 3.0% 5.0%
Maximum Total Defects.................. 5.0% 5.0%
Maximum Total Other Classes............ 2.0% 2.0%
[[Page 6592]]
Minimum Protein Content................ 13.0% (12% moisture basis) 12.5%
Minimum Falling Number................. 325 300
Maximum Moisture Content............... 13.5% 13.5%
Maximum Dockage........................ 1.5% 1.5%
Minimum Hard Vireous Amber Kernels * * 85% 80.0%
*.
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The MGE intends to apply the proposed amendments to existing
contract months, commencing with the July 2000 contract month and to
all newly listed contract months.
In support of the proposed amendments, the Exchange stated that:
[t]the purpose for amending the rule is to modify the
deliverable Durum Wheat contract grade to more closely correspond to
the standards for U.S. number 2 Hard Amber Durum Wheat. The Exchange
believes the change in par commodity specifications is necessary to
enhance participation and trade activity in the contract as well as
to expand the available supply for delivery.
The Commission is requesting comments on the proposed amendments.
Copies of the proposed amendments will be available for inspection
at the Office of the Secretariat, Commodity Futures Trading Commission,
Three Lafayette Centre, 21st Street NW, Washington, DC 20581. Copies of
the proposed amendments can be obtained through the Office of the
Secretariat by mail at the above address, by phone at (202) 418-5100,
or via the Internet at [email protected].
Other materials submitted by the Exchange in support of the
proposal may be available upon request pursuant to the Freedom of
Information Act (5 U.S.C. 552) and the Commission's regulations
thereunder (17 CFR Part 145 (1987)), except to the extent they are
entitled to confidential treatment as set forth in 17 CFR 145.5 and
145.9. Requests for copies of such materials should be made to the FOI,
Privacy and Sunshine Act Compliance Staff of the Office of Secretariat
at the Commission's headquarters in accordance with 17 CFR 145.7 and
145.8.
Any person interested in submitting written data, views, or
arguments on the proposed amendments, or with respect to other
materials submitted by the Exchange, should send such comments to Jean
A. Webb, Secretary, Commodity Futures Trading Commission, Three
Lafayette Centre, 21st Street NW, Washington, DC 20581 by the specified
date.
Issued in Washington, DC, on February 7, 2000.
Richard Shilts,
Acting Director.
Bldg. 8449, Fort Polk
Property #:21199640539
Ft. Polk Co: Vernon Parish LA 71459-
Status: Underutilized
Comment: 2093 sq. ft., most recent use--office
[FR Doc. 00-3163 Filed 2-09-00; 8:45 am]
BILLING CODE 6351-01-M
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