CME Group, the world's largest and most diverse derivatives exchange, announced that CME Group Executive Chairman Terry Duffy will discuss with U.S. Senators on Tuesday agriculture commodity markets to explain facts and share data on CME Group's agriculture futures contracts.
"CME Group is happy to work with legislators to explain how our markets operate, the critical need they serve in providing benchmark agriculture prices for the world, the fundamental factors that are impacting the marketplace and data on who trades our products," Duffy said. "CME Group congratulates Congress on taking such a timely interest in these markets that affect all of our lives. In the last week alone rains have deluged acres of recently planted corn fields, drowning crops and making it difficult to plant new ones so late in the planting season. As a result, prices in corn have hit all-time highs."
The hearing is scheduled for 10:30 a.m. Tuesday in the Dirksen Senate Office Building. The Senate Appropriations Subcommittee on Financial Services and General Government and the Senate Committee on Agriculture, Nutrition and Forestry are jointly hosting the session.