[Federal Register Volume 64, Number 150 (Thursday, August 5, 1999)]
[Notices]
[Page 42676]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-20149]


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COMMODITY FUTURES TRADING COMMISSION


Proposed Amendments to the Chicago Board of Trade Oats Futures 
Contract To Provide That Minneapolis/St. Paul Deliveries Will Be at Par 
With Chicago Deliveries

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of proposed amendments.

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SUMMARY: The Chicago Board of Trade (CBT or Exchange) has proposed 
amendments to its oats futures contract that will change the locational 
price differential for oats delivered at regular warehouses in 
Minneapolis/St. Paul, Minnesota to par from the current 7\1/2\ cents 
per bushel discount. The proposed amendments will apply only to oats 
futures contract months beginning with the July 2000 contract month. 
The proposed amendments were submitted under the Commission's 45-day 
Fast Track procedures which provide that, absent any contrary action by 
the Commission, the proposed amendments may be deemed approved on 
September 13, 1999--45 days after the Commission's receipt of the 
proposals. The Acting Director of the Division of Economic Analysis 
(Division) of the Commission, acting pursuant to the authority 
delegated by Commission Regulation 140.96, has determined that 
publication of the proposals for comment is in the public interest, 
will assist the Commission in considering the views of interested 
persons, and is consistent with the purpose of the Commodity Exchange 
Act.

DATES: Comments must be received on or before August 20, 1999.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581. In 
addition, comments may be sent by facsimile transmission to facsimile 
number (202) 418-5521, or by electronic mail to [email protected]. 
Reference should be made to the CBT oats Minneapolis/St. Paul par 
delivery amendments.

FOR FURTHER INFORMATION CONTACT: Martin Murray of the Division of 
Economic Analysis, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street, NW, Washington, DC, (202) 418-5276. 
Electronic mail: [email protected].

SUPPLEMENTARY INFORMATION: The CBT oats futures contract calls for the 
delivery of 5,000 bushels of oats in regular warehouses located at 
Chicago, Illinois (including Burns Harbor, Indiana) and Minneapolis/St. 
Paul, Minnesota. Under current contract terms, delivery in Chicago is 
at par, and in Minneapolis/St. Paul is at a 7\1/2\ cents per bushel 
discount. Under the proposed amendments, delivery in Minneapolis/St. 
Paul would be made at par, along with delivery in Chicago.
    The Exchange states that its proposal reflects the fact that 
Minneapolis/St. Paul is the leading cash market for oats and that most 
futures deliveries are made from this location.
    The Commission particularly requests that commenters address the 
extent to which a zero price differential between Minneapolis/St. Paul 
and Chicago (that is, par delivery for both points) falls within the 
range of normal commercial price differences between these locations, 
and the extent to which the proposed amendments will affect 
economically deliverable supplies for the oats futures contract.
    Copies of the proposed amendments are available for inspection at 
the Office of the Secretariat, Commodity Futures Trading Commission, 
Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581. 
Copies of the terms and conditions can be obtained through the Office 
of the Secretariat by mail at the above address, by phone at (202) 418-
5100, or via the Internet on the CFTC website at www.cftc.gov under 
``What's New & Pending.''.
    Other materials submitted by the CBT in support of the proposal may 
be available upon request pursuant to the Freedom of Information Act (5 
U.S.C. 552) and the Commission's regulations thereunder (17 CFR Part 
145 (1997)), except to the extent that they are entitled to 
confidential treatment as set forth in 17 CFR 145.5 and 145.9. Requests 
for copies of such materials should be made to the FOI, Privacy and 
Sunshine Act Compliance Staff of the Office of Secretariat at the 
Commission's headquarters in accordance with 17 CFR 45.7 and 145.8.
    Any person interested in submitting written data, views, or 
arguments on the proposed terms and conditions, or with respect to 
other materials submitted by the CBT, should send such comments to Jean 
A. Webb, Secretary, Commodity Futures Trading Commission, Three 
Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581 by the 
specified date.

    Issued in Washington, DC, on July 30, 1999.
John Mielke,
Acting Director.
[FR Doc. 99-20149 Filed 8-4-99; 8:45 am]
BILLING CODE 6351-01-M