Levin releases spec report

摘要

Convergence in the wheat market, or lack thereof, has been an issue for the past few years within the futures industry,rnand wheat is perhaps the one market where credible evidence of a possible link between excess speculation and price can be found. On June 24, Sen. Carl Levin (D-Mich.) released a report stating many of the wheat futures contracts purchased and held by commodity index traders on CME Group over the last five years constituted excessive speculation. The report recommended that the CFTC phase out existing wheat waivers for index traders and consider imposing a position limit of 5,000 wheat contracts per index trader.