We believe the historic system of commodity futures trading continues bankrupting family farmers, ranchers and consumers and is not a prudent risk management tool. The following should be enacted:

  1. Transfer regulatory authority of the Commodity Futures Trading Commission (CFTC) to the Security Exchange Commission (SEC).
  2. Support regulations that maintain prices above the cost of production.
  3. We oppose ag commodity options as a substitute for farm programs.
  4. We are opposed to any government involvement in ag options or futures trading as a substitute for or in conjunction with farm programs.
  5. We oppose any speculative trading of commodities futures by any foreign governments, companies or individuals.
  6. All commodities sold on futures or options shall be treated as a positive sale and taxed the same as any ordinary sale of the same commodity.
  7. We support legislation requiring all speculative futures contracts to be assessed any federal check-off.
  8. We support the elimination of speculative short selling of commodity futures contracts.