On October 18th 2011, the U.S. Commodity Futures Trading Commission (CFTC) agreed in a 3-2 vote to approve limits on the size of positions in futures and swaps markets. This action will place restraints on financial institutions, but to what extent must still be examined.

TriCRI has been advocating diligently on this issue, as the rising cost of food affects the poor worldwide and is affected by many speculative dollars entering the agricultural commodities futures market. If passed, strict positions limits provide regulatory certainty and encourage stable derivatives markets for the benefit of farmers and consumers, versus those looking to make a quick profit.

Along with ICCR, we called on the Commissioners of the CFTC to disallow the practice of gambling on hunger. More than 400 people joined us to raise our voices in solidarity.

Read ICCR’s Press Release and the letter writing campaign update.