Kansas City Board of Trade: Proposed Amendments Relating to Delivery Locations, Quality Price Differentials, and Loading Requirements and Fees for the Hard Red Winter Wheat Futures Contract

Streszczenie

The Kansas City Board of Trade (``KCBT'') has submitted proposed amendments to its hard red winter wheat futures contract. The proposal will: (1) Establish a new delivery point at Hutchinson, Kansas, with futures deliveries at this location being subject to a discount of 12 cents per bushel; (2) increase to 3 from 1.5 cents per bushel the discount for delivery of U.S. No. 3 grade wheat; (3) increase the minimum daily rate at which regular warehouses must load out wheat against warehouse receipts issued for futures delivery; and (4) increase to seven from five cents per bushel the maximum load-out fees chargeable by the warehouse operator. In accordance with Section 5a(a)(12) of the Commodity Exchange Act and acting pursuant to the authority delegated by Commission Regulation 140.96, the Acting Director of the Division of Economic Analysis (``Division'') of the Commodity Futures Trading Commission (``Commission'') has determined, on behalf of the Commission, that the proposed amendments are of major economic significance. On behalf of the Commission, the Division is requesting comment on this proposal.