The National Grain and Feed Association has thrown its support behind two key nominations affecting agricultural markets, urging the Senate to move quickly on confirmations.
NGFA expressed support for Mike Selig to chair the Commodity Futures Trading Commission and applauded the Senate Agriculture Committee for advancing his nomination. The association also welcomed the Senate Finance Committee's vote to advance Dr. Julie Callahan's nomination as Chief Agricultural Negotiator in the Office of the U.S. Trade Representative.
"End-users across the grain, feed, processing, and transportation sectors depend on efficient, transparent, and resilient futures markets," said NGFA President and CEO Mike Seyfert. "Mr. Selig's plans to chair CFTC's Agricultural Advisory Committee and his background in derivative markets give the U.S. agricultural value chain confidence that the CFTC will continue to safeguard traditional markets while standing up new cryptocurrency regulation."
Selig, who serves as Chief Counsel of the SEC Crypto Task Force and Senior Advisor to SEC Chairman Paul Atkins, brings experience that NGFA believes is crucial as digital assets and derivatives markets evolve rapidly.
For the trade negotiator position, Seyfert called Dr. Callahan "the ideal choice at this critical juncture" who would provide "essential continuity and leadership for the nation's grain, feed, and export sectors at a pivotal time for U.S. trade policy."
In September, NGFA joined other agricultural groups in a letter to Senate Finance Committee leadership highlighting Callahan's extensive experience in global agricultural trade and her record of advocacy for U.S. agricultural interests.
