At its meeting on May 2, 2001, the Board of Directors approved a change in the grading requirement for lumber delivered against futures contracts. Effective on May 16, 2001 with the listing of the July, 2002 contract, lumber delivered against futures contracts shall be grade stamped CONSTRUCTION AND STANDARD, STANDARD AND BETTER, #1 or #2 AND BETTER.

The text of the rule change can be found at www.members.cme.com.

Please contact Mr. Jack Cook, Economist, Commodity Product Development Department, if you have any questions regarding this rule change. Thank you.