NGFA Spearheads Letter to Congress on Consequences of MF Global Bankruptcy

“The U.S. agricultural sector relies heavily on regulated exchanges for risk management,” the letter concluded.  “The ability of both commercial and producer hedgers to use futures markets…depends on lenders agreeing to meet margin calls, which demands full confidence by all lenders in the safety of those funds.  We must be confident the system works, that it properly safeguards customer funds, and that customers can have full confidence in continuing to utilize exchange-traded (risk-management) tools.”

In addition to the NGFA, other groups signing the letter were:  AgriBank FCB; AgStar Financial Services, ACA; American Farm Bureau Federation; CoBank, ACB; Commerce Bank; Commodity Markets Council; Farm Credit Services of America; Independent Community Bankers of America; KeyBank Agribusiness; National Association of Wheat Growers; National Barley Growers Association; National Chicken Council; National Corn Growers Association; National Pork Producers Council; National Sunflower Association; Pet Food Institute; and U.S. Canola Association.