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Weekly
Market Update - (8/22/08) |
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One
of the biggest stories right now in the world of agricultural
futures is the continued discussions of how to “fix”
the Chicago wheat contract which centers on the poor
convergence of the futures market to the cash market
with these contracts over the past year. The CME Group
held a hearing this week to discuss possible changes
to the contract, and the National Grain and Feed Association
(NGFA) meets on August 29 to develop its recommendation.
At this time, there are three proposals being put
forth for comment. They focus on seasonal storage
rates, additional delivery locations and compelled
load out. ...more
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