The National Grain and Feed Association joined comments submitted to the Commodity Futures Trading Commission supporting the agency’s review of its Commitments of Traders Reporting Program and recommending changes aimed at improving market transparency and risk management for agricultural market participants.
NGFA said the reports serve as an important source of market information for producers, cooperatives, grain handlers, processors, exporters and other commercial users that rely on futures markets to manage price risk. The association noted that while the reports remain among the CFTC’s most widely used market resources, the program should be updated to reflect increasingly interconnected and rapidly changing markets.
Among its recommendations, NGFA called on the commission to publish Commitments of Traders reports twice weekly and reduce the current three-day gap between data collection and publication, provided those changes can be implemented without compromising report accuracy or integrity.
The association also encouraged the CFTC to evaluate additional market data that could provide a broader view of trading activity.
According to NGFA, the proposed improvements would help market participants make more informed risk management decisions while maintaining data accuracy and trader anonymity.
NGFA President and CEO Mike Seyfert said the reports are an important transparency tool for agricultural markets and expressed support for the commission’s efforts to review and strengthen the program. He said the association looks forward to working with the CFTC as it considers ways to improve the usefulness and accessibility of market data for market participants.
Source: NGFA, "NGFA urges CFTC to modernize Commitments of Traders Reporting Program"