So you would agree that the basis, the price gap, is larger than has been historically the case, is that correct?
Hedging in the futures markets only works to the extent that the price of the commodity in the cash market and the price...
As to the issue of price convergence, a competing theory which has been offered for why there is a lack of price converg...
Do you believe that the dramatic increase in commodity indexed trading and the futures which are purchased to hedge agai...
And when are you going to be deciding whether to carry out that mandate--in other words, remove the exemptions, remove t...
It doesn't have to be that way.
I think that we have the clear authority to do it as it relates to the two no-action letters.
Well, thank you all very much for your testimony.
Well, I am not sure I understand your explanation as to why you disagree that the storage cost shift cannot explain this...
And we have shown the correlation between the huge influx of money from the index funds to the increase in the futures p...
Do you believe that it was a big factor prior to 2004?