National Corn Growers Association

5/11/11, Daily Price Limits

NCGA sent a letter to the Commodity Futures Trading Commission stating the organization’s opposition to a proposed rule change that would increase daily price limits on corn futures and options. A petition filed by the CME Group requests approval to increase the daily cap on corn futures and options trading from $0.30 per bushel to $0.40 per bushel. NCGA believes that this will not aid price discovery and that, ultimately, growers will bear the cost. Click here for the letter.