Comment Text:
The recent changes to storage rates and delivery points proposed by CME are a positive step for commodities and futures contracts. The lack of convergence in corn and soybean futures created problems for hedgers who rely on price and values reflected by futures contracts. The true cost of carry was(is) not being shown. FCE supports the changes proposed and urges the CFTC and CME to consider a yearly review of storage rates. Such a review would allow the market to react to the constantly changing fundamentals that are the basis for price discovery.
