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What this week's CFTC meeting will mean to the grain markets

Agriculture.com Staff 04/22/2008 @ 2:53pm

With the Commodities Futures Trading Commission hosting a forum in Washington, D.C., floor traders are anxious to see what the outcome will mean for the markets.

Vic Lespinasse, Grainanalyst.com, says the public meeting has the potential to make a significant difference in how commodity markets operate.

Farmers had a close eye on the CFTC going into Tuesday's meeting. Many saw it as a big chance to reform the grain markets in order to maintain the control of market fundamentals over grain prices, especially in the face of outside interest that's been present in the marketplace in recent months.

"I have no idea whether the CFTC can get its sights or keep them on fundamental market reform in the fog of technical special interest demands that will just push futures markets Armageddon to a later date," writes one Marketing Talk member. "My guess is that this will be the first and last chance to get the locomotive back on the tracks and discipline money to physical reality. If it isn't going to be done given this opportunity then I'd say the powers that be do not want to get it done at all. If not, the futures will limp into the future discredited, no longer trusted or used for price discovery, and the Golden Goose will be served on a platter at the next board meeting."

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With the Commodities Futures Trading Commission hosting a forum in Washington, D.C., floor traders are anxious to see what the outcome will mean for the markets.

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