Comment Text:
Subject: Opposition to CME proposal to increase corn daily limit to 40 cents.
Previously I submitted comments in opposition to CME's proposal to raise the daily corn limit from 30 cents a bushel to 50 cents. All previous comments I submitted in opposition to the rise in the limit to 50 cents apply equally to a 40 cent limit or any limit that increases the daily limit from 30 cents. I will not repeat those comments here but do reference you to them for consideration.
As a number of comments submitted to CFTC from a wide spectrum of producer, processing, and cash grain merchants and organizations, there is "no" justifiable reason for increasing the daily corn limit. Please take the advice of those individuals who "live and work" the cash grain business and deny CME's request for any limit increase in corn. Quite simply, the current limit is sufficient and does not require a "compromise" with CME in raising the corn limit.
