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CFTC Reconstitutes Ag Advisory Committee

Michael J. Anderson Named NGFA’s Representative to Committee

The Commodity Futures Trading Commission’s Agricultural Advisory Committee, dormant for the past two years, has been reconstituted and will conduct its first meeting under new leadership July 25 in Washington. D.C.

Previously, the AAC had been “sponsored” by one of the five CFTC commissioners. But the commission has changed the structure. Randy Fortenbery will oversee the AAC’s operations, supported by CFTC staff. Fortenbery is on the faculty of Washington State University in the Tom Mick Endowed Chair in the School of Economic Sciences. His research focuses on agricultural price performance in local and national markets, and he has examined the impact of futures price action on the stability of cash prices. Previously, Fortenbery was on the faculty of the University of Wisconsin-Madison, where he focused on various agricultural commodity-related issues.

National Grain and Feed Association’s new representative to the AAC is Michael J. Anderson, regional sales manager of The Andersons, Inc. in Maumee, Ohio. Anderson serves as a member of the NGFA Risk Management Committee, and previously served on the Country Elevator Committee. In addition, fellow NGFA Risk Management Committee member Steve Strong, with Bunge North America out of St. Louis, Mo., will serve on the AAC as the representative of the North American Export Grain Association, a strategic partner of the NGFA.

A formal agenda is not yet publicly available from the CFTC, but the AAC meeting is expected to address, among other matters, potential enhancements in futures customer protections, as well as potential pitfalls in a CFTC-proposed regulation on customer protection. Both Anderson and Strong will participate in the July 25 meeting of the AAC.