Corn price limit increase faces opposition

摘要

MARKET participants say CME Group's proposal to increase daily corn trading limits from 30 cents to 40 cents could lead to more volatility in corn futures prices and is unwarranted at this time. The Commodity Futures Trading Commission (CFTC) called for public comments on the proposal, and only one of the 55 submitted was in favor of the limit increase. Unless CFTC, which has regulatory jurisdiction over the nation's futures exchanges, formally takes action to disapprove the proposal, it would take effect automatically following a 45-day review period, which CFTC said it plans to extend to June 24. CFTC also may more rapidly approve or reject the proposal. CME said it would implement the change shortly after CFTC approval.