The House Agriculture Committee has just completed a series of four meetings regarding reauthorization of the Commodity Futures Trading Commission. National Grain and Feed Association President Randy Gordon says his group has been following the process and speaking with both committee and CFTC Commissioners. He says one fix his group suggested involves the requirement of futures commissioners to issue residual interest based on anticipation of how the market closes.

Gordon says another fix they’re continuing to work with lawmakers and CFTC Commissioners involves bona fide hedging.

Gordon says his group is cautiously optimistic about how the reauthorization process is going for the CFTC. House Ag Committee Chairman Michael Conaway says their overarching goal is to make sure derivatives markets can meet the needs of hedgers and not become overly regulated to the detriment of all market participants.