Comment Text:
Appreciate the CME implementing an increase in the storage rates by $0.03c/bu per month. However, given market conditions and how quickly they can change I believe this should be done on a annual basis rather than every three years. Such a long period can cause stagnation and the market to become inefficient like we witnessed previously.
Lack of convergence has caused additional challenges in a already arduous marketing environment both for the elevator and the farmer. It has cause both parties to make the wrong decision based on futures spreads relation as well as basis.
Appreciate your time
