USDA Rice Warehouse Receipts which serve as the delivery instrument for CBOT® Rough Rice futures contracts will convert from paper to electronic form.  Effective with the July 2007 and subsequent contracts, paper Rough Rice receipts will not be deliverable. 

The Exchange is utilizing eGrain, Inc., a USDA-licensed electronic warehouse receipt provider.  Effective June 22, 2007, warehouse receipts delivered in satisfaction of Rough Rice futures contracts must be done using Electronic Warehouse Receipts (EWRs).  Registered paper warehouse receipts issued by regular facilities will not be deliverable against July 2007 futures or subsequent contract months.  Holders of warehouse receipts who plan on going through delivery must convert their paper warehouse receipts to EWRs.

To convert registered paper Rough Rice warehouse receipts to EWRs, holders should request cancellation and contact the appropriate clearing agent prior to June 22, 2007 for conversion to EWRs.  

If you have any questions regarding converting receipts or about eGrain, please contact Sharon Weiss (312-341-3097), Joe Miller (312-341-3426) or Terry Gehring (312-435-3644) of the Market Surveillance Department.