Proposed Amendments to the Chicago Board of Trade Oats Futures Contract To Provide That Minneapolis/St. Paul Deliveries Will Be at Par With Chicago Deliveries

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The Chicago Board of Trade (CBT or Exchange) has proposed amendments to its oats futures contract that will change the locational price differential for oats delivered at regular warehouses in Minneapolis/St. Paul, Minnesota to par from the current 7\1/2\ cents per bushel discount. The proposed amendments will apply only to oats futures contract months beginning with the July 2000 contract month. The proposed amendments were submitted under the Commission's 45-day Fast Track procedures which provide that, absent any contrary action by the Commission, the proposed amendments may be deemed approved on September 13, 1999--45 days after the Commission's receipt of the proposals. The Acting Director of the Division of Economic Analysis (Division) of the Commission, acting pursuant to the authority delegated by Commission Regulation 140.96, has determined that publication of the proposals for comment is in the public interest, will assist the Commission in considering the views of interested persons, and is consistent with the purpose of the Commodity Exchange Act.