The National Grain and Feed Association is leading a coalition of ag groups that have written Senate Appropriators asking them for full funding for the Commodity Futures Trading Commission for fiscal year 2019. NGFA President Randy Gordon says the agency has requested $282 million due to the increased oversight responsibilities they’ve taken on.
He says one of the major ag issues CFTC is dealing with involves bona fide hedges, which are trades placed by producers or end-users of the commodity. Gordon says the Obama administration had attempted to tighten the requirements, which created uncertainty for agriculture.
Gordon says the CME has also expanded block trading to ag commodities and the CFTC is charged with overseeing and ensuring the transparency of those transactions.
NGFA, was joined by 14 other ag groups in the letter to Senate Appropriators.
