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

Summary

The Agricultural Marketing Service (AMS) is proposing to update the regulatory language to identify which genuine cotton spot markets will be used to determine actual commercial price differences for various grades above or below the basis grade in the settlement of World cotton futures contracts on the Intercontinental Exchange (ICE). This change aims to enable AMS to collect spot market price data and publish spot quotes for these specific contracts.