MGE CORN SYRUP FUTURES CONTRACT CLEARS HURDLE
The staff of the Commodity Futures
Trading Commission, CFTC, recommended that the regulatory
agency approve the Minneapolis Grain Exchange's application to
trade high fructose corn syrup-55, HFCS-55, futures contracts.
    The commission is expected to approve the application at a
meeting tomorrow.
    The proposed contract would provide for the delivery of
48,000 lbs, plus or minus two pct, of bulk HFCS-55, a liquid
food and beverage sweetener produced through processed corn
starch by corn refiners.
    Under proposed rules, a shipping certificate has a limited
life, as it expires 30 days following the last day of trading
of the expiring contract month. A premium charge of 14.40 dlrs
per contract per day would be assessed under the proposal.
 Reuter
