Agricultural Marketing Service to Designate Bona Fide Cotton Spot Markets for World Cotton Futures Contracts

Summary

The Agricultural Marketing Service (AMS) is updating its regulations to identify legitimate cotton spot markets that will determine the actual commercial differences in value for various cotton grades above or below the basis grade in the settlement of World cotton futures contracts on the Intercontinental Exchange (ICE). This designation will enable AMS to collect spot market price data and publish spot quotes for these specific contracts.