"Senator Coburn talked about West Texas intermediate. That contract has converged, and it has a different contract design than this contract."
"Isn't the real reason that there is no problem with price convergence in Cushing, Oklahoma, is because if you have your name on that barrel of oil, you better be there in Cushing because delivery is g..."
"So it would seem to me that there is no question that there is a direct relationship of index funds and the long-held positions that would account for some of this non-convergence."
"But we do have more corn that is out there and more contracts, right?"
"That is a concern that I have because I think if we become too restrictive here, the invested capital goes somewhere else."
"Do you think the double-down and double-up index funds that are double-hedged have any extra contribution to some of the phenomenon we have seen?"
"What are the potential unintended consequences if you were to do that? Have you thought through that?"
"Well, but they do sell. They just roll."
"So who makes the money off that?"
"If you do all those things, won't this money go to an overseas market?"
"But there is some risk?"