After working closely with Distillers’ Dried Grain (DDG) expected market participants, CME Group has decided to remove truck load-out terms and conditions from the DDG futures contract, which becomes available for trading on April 26, 2010. The DDG futures contract is a rail-based contract that also has included language for truck load-outs. However, several market participants raised concerns about truck load-out values and addressing these issues would significantly increase the complexity of the contract. Being a rail-based contract, CME Group determined that the cost of increased complexity was greater than the benefit of having a truck load-out option. Consistent with other CBOT grain and oilseed contracts, both buyer and seller may agree to load-out procedures outside contract specifications and negotiate a truck load-out. However, any alternative load-out procedures outside of contract rules and are not guaranteed for performance by the exchange.
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