Chicago Board of Trade Futures Contracts in Corn and Soybeans; Proposed Order To Change and To Supplement Proposal

概要

The Commodity Futures Trading Commission (``Commission'') has issued a Proposed Order to the Board of Trade of the City of Chicago (``CBT''), under Section 5a(a)(10) of the Commodity Exchange Act (``Act''), 7 U.S.C. 7a(a)(10), to Change and to Supplement its Proposal regarding the delivery terms of the CBT corn and soybean futures contracts. The CBT proposal was submitted in response to a December 19, 1996, notification to the CBT by the Commission that the CBT corn and soybean futures contracts no longer accomplish the objectives of that section of the Act. The Commission in its Proposed Order, proposes to change and to supplement the CBT proposal for its soybean futures contract by: i) retaining the Toledo, Ohio, switching district as a delivery location; ii) retaining St. Louis-East St. Louis-Alton as a delivery location for shipping stations; and iii) making soybeans from the Toledo delivery location deliverable at contract price and from all other locations at a premium over contract price of 150 percent of the difference between the Waterways Freight Bureau Tariff No. 7 rate applicable to that location and the rate applicable to Chicago, Illinois, with Chicago at contract pri