The House Agriculture Committee will hold three key hearings this week to review legislation that addresses the regulation of U.S. futures markets. The impact of speculative investment money pouring into commodity markets, which are traditionally used to hedge price risks, has caused widespread concern. Several pieces of legislation have been proposed to address the issue, including a bill that would give greater authority to the Commodity Futures Trading Commission. Committee chairman Rep. Collin Peterson, D-Minn., who's committee has jurisdiction of the CFTC, pledged to take up a comprehensive review of the futures markets in July.
The hearings are scheduled for July 9 at 2:30 p.m., July 10 at 10 a.m. and July 11 at 10 a.m., all in Washington, D.C. They will review legislation to amend the Commodity Exchange Act and will be webcast live at www.agriculture.house.gov.