Chicago Board of Trade Futures Contracts in Corn and Soybeans; Notice That Delivery Point: Specifications Must Be Amended

COMMODITY FUTURES TRADING COMMISSION

Chicago Board of Trade Futures Contracts in Corn and Soybeans;

Notice That Delivery Point: Specifications Must Be Amended

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of, and request for public comment on, response of the

Chicago Board of Trade to Notification to amend delivery

specifications.

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SUMMARY: The Commodity Futures Trading Commission (Commission), by

letter dated December 19, 1996, notified the Board of Trade of the City

of Chicago (CBT), under section 5a(a)(10) of the Commodity Exchange Act

(Act), 7 U.S.C. 7a(a)(10), that the delivery terms of the CBT corn and

soybean futures contracts no longer accomplish the objectives of that

section of the Act. Under section 5a(a)(10), the CBT was required to

respond by March 4, 1997, seventy-five (75) days from the date of the

notice.

By letter dated March 4, 1997, from Patrick H. Arbor to Chairperson

Brooksley Born, the CBT responded by providing to the Commission a

status report of its actions. In that response, the CBT reported that a

``working alternative'' had been approved by the exchange board and

would be forwarded to the membership for a vote.

On March 14, 1997, the Commission provided notice of the CBT's

working alternative in order to provide the public with an opportunity

to comment to the Commission on it (62 FR 12156). The Commission has

determined to extend the comment period for an additional fifteen (15)

days.

DATES: Comment must be received by April 15, 1997.

ADDRESSES: Comments should be mailed to the Commodity Futures Trading

Commission, Three Lafayette Centre, 1155 21st Street, NW, Washington,

DC 20581, attention, Office of the Secretariat; transmitted by

facsimile at (202) 418-5521, or transmitted electronically at

[email protected]. Reference should be made to ``Corn and Soybean

Delivery Points.''

FOR FURTHER INFORMATION, CONTACT:

Blake Imel, Acting Director, or Paul M. Architzel, Chief Counsel,

Division of Economic Analysis, Commodity Futures Trading Commission,

Three Lafayette Centre, 1155 21st Street, NW, Washington, DC 20581,

telephone (202) 418-5260, or electronically, Mr. Architzel at

P[email protected].

[[Page 14674]]

SUPPLEMENTARY INFORMATION: The Commission has determined to extend the

public comment period for the subject notice. The Commission believes

that an extension of the comment period until April 15 would permit

interested parties to fully evaluate the proposal and to submit their

comments thereon to the Commission.

Issued in Washington, DC, on March 21, 1997.

Jean A. Webb,

Secretary of the Commission.

[FR Doc. 97-7805 Filed 3-26-97; 8:45 am]

BILLING CODE 6351-01-M