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National & World Ag News Headlines |
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NGFA Commends Final Rule on Speculative Position Limits
USAgNet - 10/19/2020
The National Grain and Feed Association commended the Commodity Futures Trading Commission for its Oct. 15 approval of a final rule on speculative position limits that preserves critically important hedging and risk-management strategies for the agricultural
industry.
"NGFA congratulates Chairman Heath Tarbert, his fellow commissioners, and CFTC staff on approval of a final rule on speculative position limits," said NGFA Senior Vice President and Treasurer Todd Kemp.
"Our expectation is that the rule will preserve the critically important hedging and risk-management strategies on which our industry has relied for years, and will provide several additional important tools to assist our members as they work with U.S. agricultural
producers to manage their market risk and optimize income.
"We deeply appreciate the willingness of CFTC to be open to NGFA-member companies concerns and input through the rulemaking process."
The NGFA has been deeply involved in the speculative position limit rulemaking process for more than 10 years.
The rule is one of the last unfinished regulatory pieces of business to implement under the 2008 Dodd-Frank Act.
The approved rule has seen many significant changes over the decade-long process and is immeasurably improved for the grain, feed and processing industry from previous versions, NGFA said.
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