Comment Text:
Without the speculator component in futures markets, we are left with the hedger (producer) and the commercial (processor) in direct competition. The resources of the commercial far outstrip that of any individual hedger, and by that measure alone we have a David and Goliath setup.
We need the speculator to have the ability to be involved in the mix. The current limits may be too large, but the proposed limits are too restrictive. The speculator needs to have the ability to be involved in multiple contract months to reduce some of his risk and the proposed limits would make that impossible.
I would like to see limits reduced (if at all) by just one half of the current number.
