A CFTC proposal to apply federal speculative position limits to
25 "core referenced futures contracts" was published in the Federal Register. Comments on
the proposal must be received by April 29, 2020.
As
previously covered, the 25 core contracts include 16 related to
agriculture, five related to metals, and four related to energy.
With the exception of nine of the agriculture products, the federal
limits would apply only during the stop month; however, the
relevant exchanges (i.e., CBOT, MGEX, ICE, COMEX and/or
NYMEX, depending on the product) would be required to set non-spot
month limits in the other contracts.
The position limits would not apply to location basis contracts,
commodity index contracts, swap guarantees or certain trade
options.
