Chicago Board of Trade Futures Contracts in Corn and Soybeans; Order Approving Proposed Rules and Amending Orders of May 7, 1998, and November 7, 1997

Zusammenfassung

The Commodity Futures Trading Commission (Commission), on January 25, 1999, issued an Order to the Board of Trade of the City of Chicago (CBT) under sections 5a(a)(12) and 5a(a)(10) of the Commodity Exchange Act (Act), 7 U.S.C. 7a(a)(12) and (10), approving amendments to the CBT's corn and soybean futures contracts and amending the Commission's Orders under section 5a(a)(10) of the Act of November 7, 1997, and May 7, 1998, to effectuate the approved rule amendments. On January 25, 1999, the Commission approved for the CBT corn and soybean futures contracts, beginning on January 3, 2000: (1) Deletion of provisions relating to in-loading of the commodities at regular warehouses; (2) rules extending a preference for load-out by regular warehouse or shipping station operators of deliveries on futures contracts over their cash commitments until meeting their daily load- out requirement that is currently in effect for delivery by barge to other modes of transportation; and (3) rules requiring regular shipping stations, at a minimum, to load at the highest loading rate applicable for the commodities in a loading line-up which includes both wheat and corn or soybeans or both oats and corn