MGE CORN SYRUP FUTURES CONTRACT CLEARS HURDLE

  The staff of the Commodity Futures
  Trading Commission, CFTC, recommended that the regulatory
  agency approve the Minneapolis Grain Exchange's application to
  trade high fructose corn syrup-55, HFCS-55, futures contracts.
      The commission is expected to approve the application at a
  meeting tomorrow.
      The proposed contract would provide for the delivery of
  48,000 lbs, plus or minus two pct, of bulk HFCS-55, a liquid
  food and beverage sweetener produced through processed corn
  starch by corn refiners.
      Under proposed rules, a shipping certificate has a limited
  life, as it expires 30 days following the last day of trading
  of the expiring contract month. A premium charge of 14.40 dlrs
  per contract per day would be assessed under the proposal.
  

