Chicago Board of Trade Futures Contracts in Corn and Soybeans; Order To Change and To Supplement Delivery Specifications

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The Commodity Futures Trading Commission (Commission) is issuing an 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 the delivery terms of the CBT corn and soybean futures contracts. The CBT submitted proposed changes to the delivery specifications of its corn and soybean futures contracts 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 Order changes and supplements the CBT proposal for its soybean futures contract by making all changes to such CBT rules as required to effect the following: (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 th