Comment Text:
I wish to express my opinion on the proposed increase daily limit for commodity trading, and in particular the commodities of grains and oilseeds.
I have farmed since 1972 and during that same period have used the CBOT as a tool to hedge the commodities I grown in Central Illinois.
I believe the proposed increase in trading limits will add to the already volital swings in farm commodities.
If my hypothisis is correct, then I may suffer economic hardship due to increase margin requirments. If I do not hedge my commodities via CBOT then the cash sales to local elevators will be hedged by that elevator and the already stressed finances at grain elevators due to margin requirements will only worsen.
The commodities traded on CBOT in my opinion, has served speculative traders in the past several years more than producers and the processors of agricultureal commodities. The increase daily limits would only serve those entities that wish to gain from even more volital market swings.
Due to this I oppose the daily commodity limit increase as proposed.
Thank you for considering my opinion.
Sincerely,
Allen Williams
