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Trading includes various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of the commodity will be delivered at some agreed future date.
The Grain Futures Act (ch. 369, 42 Stat. 998, 7 U.S.C. § 1) is a United States federal law enacted September 21, 1922 involving the regulation of trading in certain commodity futures, and causing the establishment of the Grain Futures Administration, a predecessor organization to the Commodity Futures Trading Commission.
I, sec. 8, cl. 3; 42 Stat. 998, c. 369 (Grain Futures Act) Olsen , 262 U.S. 1 (1923), is a United States Supreme Court decision in which the Court upheld the Grain Futures Act as constitutional under the Commerce Clause of the United States Constitution .
The weekly report details trader positions in most of the futures contract markets in the United States. Data for the report is required by the CFTC from traders in markets that have 20 or more traders holding positions large enough to meet the reporting level established by the CFTC for each of those markets. 1 These data are gathered from schedules electronically submitted each week to the ...
Commodity Exchange Act (ch. 545, 49 Stat. 1491, enacted June 15, 1936) is a federal act enacted in 1936 by the U.S. Government, with some of its provisions amending the Grain Futures Act of 1922. The Act provides federal regulation of all commodities and futures trading activities and requires all futures and commodity options to be traded on ...
The Future Trading Act of 1921 (Pub. L. 67–66, 42 Stat. 187) was a United States Act of Congress, approved on August 24, 1921, by the 67th United States Congress intended to institute regulation of grain futures contracts and, particularly, the exchanges on which they were traded.
In futures contracts the buyer and the seller stipulate product, grade, quantity and location and leaving price as the only variable. [32] Agricultural futures contracts are the oldest, in use in the United States for more than 170 years. [33] Modern futures agreements, began in Chicago in the 1840s, with the appearance of grain elevators. [34]
A corn exchange is a building where merchants trade grains. The word "corn" in British English denotes all cereal grains, such as wheat and barley; in the United States these buildings were called grain exchanges. Such trade was common in towns and cities across the British Isles until the 19th century, but as the trade became centralised in ...