On April 19, 2007 a notice was issued to the marketplace announcing that USDA Rice Warehouse Receipts which serve as the future delivery instrument for Rice futures contracts will convert from paper to electronic form.  The planned implementation was scheduled for the July 2007 delivery period.

It has been determined that additional time is required for both firms and banks to become registered on eGrain, Inc., the USDA-licensed electronic warehouse receipt provider.

The Exchange intends on pursuing the electronic warehouse receipts and implementing them for the September 2007 delivery cycle. 

Firms should be aware that upon implementation, paper receipts will no longer be deliverable.  The Exchange will continue to assist firms whose customers participate in the Rough Rice futures market to sign up on the eGrain system.      

Should you have any questions regarding this process or would like assistance in signing up, please contact Joe Miller (312-341-3426), Terry Gehring (312-435-3644) or Sharon Weiss (312-341-3097) of the Market Surveillance Department.