• Amendments to CBOT Chapter 7 (“Delivery Rules and Procedures”)

      • #
      • MKR05-17-19
      • Notice Date
      • 17 May 2019
      • Effective Date
      • 03 June 2019
    • Effective Sunday, June 2, 2019 for trade date Monday, June 3, 2019, and pending all relevant CFTC regulatory review periods, The Board of Trade of the City of Chicago, Inc. (“CBOT” or “Exchange”) will amend Rule 703.C.G.(9) (“Load-Out”) as more specifically described below.

      Recently, the U.S. Army Corps of Engineers has announced plans to temporarily close waterway locks and dams on the Illinois River to perform maintenance, tentatively scheduled to begin July 1, 2020. Pursuant to Rule 703.C.G.(9), in the event that it has been announced by the U.S. Coast Guard, after consulting with the U.S. Army Corps of Engineers and the River Industry Action Committee, the Illinois River traffic will be obstructed for a period of fifteen (15) days or longer as a result of a condition of impossibility and in the event that the obstruction will affect a majority of regular shipping stations, then the barge load-out procedures in Rule 703.C.G.(9) for corn, soybeans, and SRW wheat at facilities in the St. Louis-Alton Territory and on the Ohio and Mississippi River shall apply to shipping stations upriver from the obstruction. Due to the anticipated closure, the Exchange reviewed the language in Rule 703.C.G.(9) and found it to be outdated.

      For the full text of this notice, please see the link attached below.