CFTC panel debates lack of price
05 Aug 2008
The Commodity Futures Trading Commission’s Agricultural Advisory Committee met this Tuesday to discuss the lack of convergence between the agriculture commodity futures price and the spot market price.
Michael Dunn, the CFTC commissioner who chaired the meeting, said the problem is dire, a solution is needed urgently: “The lack of convergence between the future and cash price in some contracts has shaken confidence in the futures market to act as a price discovery mechanism.”
The meeting was convened in the wake...
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