Bakers participating in the ABA Commodity and Agricultural Policy Conference held in Washington, D.C. focused heavily on new rules seeking to impose position limits in the wheat market, ongoing efforts to reform the current U.S. sugar program, and efforts to reform the corn-based ethanol mandate.
CFTC Commissioner Mark Wetjen spoke to attendees about the CFTC’s focus on high frequency trading and a possible new proposal on position limits. The CFTC’s original position limit proposal was struck down in the courts, and while the CFTC, ABA, and other interested organizations have appealed the ruling, the CFTC may move forward with a new proposal in late September.
Reforming the current U.S. sugar program has been a long time goal for the ABA. While Congress narrowly voted against reform this summer, there may be other opportunities in the near future to make the program friendlier to bakers and consumers alike.
The next Commodity and Agricultural Policy Conference will be held next March in Chicago. More details on how to register for this meeting will be announced soon.
To view highlights of the CAPC Meeting, click here for the photo gallery.