[Federal Register: August 5, 1999 (Volume 64, Number 150)] [Notices] [Page 42676] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr05au99-66] ======================================================================= ----------------------------------------------------------------------- COMMODITY FUTURES TRADING COMMISSION Proposed Amendments to the Chicago Board of Trade Oats Futures Contract To Provide That Minneapolis/St. Paul Deliveries Will Be at Par With Chicago Deliveries AGENCY: Commodity Futures Trading Commission. ACTION: Notice of availability of proposed amendments. ----------------------------------------------------------------------- SUMMARY: The Chicago Board of Trade (CBT or Exchange) has proposed amendments to its oats futures contract that will change the locational price differential for oats delivered at regular warehouses in Minneapolis/St. Paul, Minnesota to par from the current 7\1/2\ cents per bushel discount. The proposed amendments will apply only to oats futures contract months beginning with the July 2000 contract month. The proposed amendments were submitted under the Commission's 45-day Fast Track procedures which provide that, absent any contrary action by the Commission, the proposed amendments may be deemed approved on September 13, 1999--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 proposals for comment is in the public interest, will assist the Commission in considering the views of interested persons, and is consistent with the purpose of the Commodity Exchange Act. DATES: Comments must be received on or before August 20, 1999. ADDRESSES: Interested persons should submit their views and comments to Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 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 CBT oats Minneapolis/St. Paul par delivery amendments. FOR FURTHER INFORMATION CONTACT: Martin Murray of the Division of Economic Analysis, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC, (202) 418-5276. Electronic mail: [email protected]. SUPPLEMENTARY INFORMATION: The CBT oats futures contract calls for the delivery of 5,000 bushels of oats in regular warehouses located at Chicago, Illinois (including Burns Harbor, Indiana) and Minneapolis/St. Paul, Minnesota. Under current contract terms, delivery in Chicago is at par, and in Minneapolis/St. Paul is at a 7\1/2\ cents per bushel discount. Under the proposed amendments, delivery in Minneapolis/St. Paul would be made at par, along with delivery in Chicago. The Exchange states that its proposal reflects the fact that Minneapolis/St. Paul is the leading cash market for oats and that most futures deliveries are made from this location. The Commission particularly requests that commenters address the extent to which a zero price differential between Minneapolis/St. Paul and Chicago (that is, par delivery for both points) falls within the range of normal commercial price differences between these locations, and the extent to which the proposed amendments will affect economically deliverable supplies for the oats futures contract. Copies of the proposed amendments are available for inspection at the Office of the Secretariat, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581. Copies of the terms and conditions 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 on the CFTC website at www.cftc.gov under ``What's New & Pending.''. Other materials submitted by the CBT 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 (1997)), except to the extent that 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 45.7 and 145.8. Any person interested in submitting written data, views, or arguments on the proposed terms and conditions, or with respect to other materials submitted by the CBT, should send such comments to Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581 by the specified date. Issued in Washington, DC, on July 30, 1999. John Mielke, Acting Director. [FR Doc. 99-20149 Filed 8-4-99; 8:45 am] BILLING CODE 6351-01-M
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