WASHINGTON — The House Agriculture Subcommittee on General Farm Commodities and Risk Management held a hearing May 15 to review the source of volatile price movements in agricultural and energy commodity markets.
Chairman Bob Etheridge of North Carolina said the subcommittee is reviewing the Commodity Futures Trading Commission’s proposed initiatives to address this increased market volatility.
“In the last year, agricultural commodity markets have seen an appreciation in price,” said Subcommittee Ranking Member Jerry Moran of Kansas. “This hearing will give us the opportunity to listen to the concerns of market participants, review the findings of the CFTC, and determine if there are ways the regulatory structure can be adjusted to ensure the markets are operating properly.”
The subcommittee heard testimony from three panels of witnesses on commodity exchange price volatility and its effects on the agricultural and energy supply chains. Representatives from the Commodity Futures Trading Commission, the chief regulator of commodity futures and options markets, provided testimony on market trends.
Additional testimony was provided by representatives of commodity market exchanges, farm organizations, and agricultural and energy producers and distributors.
The opening statements of all the witnesses are available on the Committee Web site.
A full transcript of the hearing will be posted on the committee Web site at a later date.
