DSG Update: Senate Ag Committee Votes on CFTC Commissioner Nominations

Thursday, 29 SEP:  Today, the Senate Ag Committee met off of the Senate floor to vote on the nominations of Christopher Brummer and Brian Quintenz to become CFTC Commissioners.  Both nominees were reported favorably by the Committee (unanimous voice vote) and will be placed on the Senate Executive Calendar for consideration by the full Senate, the timing of which is still unclear.

Background:  The vote follows the September 15 Senate Ag Committee hearing on these nominees (for your convenience, the Delta Strategy Group summary of the hearing is provided below).  The two were nominated in March, 2016 to fill the two vacant Commissioner positions at the CFTC. Brummer is currently a Georgetown law professor who was nominated to fill the Democratic seat, which remains vacant since the departure of Mark Wetjen.  Quintenz is currently a hedge fund manager who was nominated to fill the Republican seat previously held by Scott O’Malia.

Note:  The nominees must be confirmed by the full Senate prior to being officially in office.  The Senate plans to adjourn mid-day tomorrow until after the elections.  There is a limited chance the full Senate confirms the nominees by unanimous consent prior to adjournment, otherwise the only remaining possibility for confirmation this Congress will be in the “lame duck” session beginning after the election (currently scheduled to begin on November 14).

Please click on the below link for full report.

DSG Update: Senate Ag Committee Votes on CFTC Commissioner Nominations

More Advocacy Issues

On April 14, 2021, Memphis stakeholders wrote a letter to Chairman Oberman of the Surface Transportation Board expressing the need for assistance in resolving the current inland rail crisis affecting importers, exporters and motor carriers in the area. See the full letter below. Click Here

Read More
 

On March 15, 2021, Mississippi State University published the expected PLC payments for the 2020 year. Please see the link below for more information. Click Here

Read More
 

The link below provides an overview and key takeaways from the Senate Banking Committee hearing to consider Gary Gensler to be a Member of the U.S. Securities and Exchange Commission (SEC). Click Here

Read More
 

The National Cotton Council provided a cotton specific summary of the Quality Loss Adjustment Program and examples. See below. Click Here

Read More
 

Yesterday, the Senate Agriculture Committee held a hearing to consider the nomination of Tom Vilsack to be Secretary of Agriculture. Click below for details from the hearing. Click Here

Read More
 

China Policy and Market Update

January 29th, 2021

In December, China imported 1,629,083 bales (354,691 MT) of cotton, representing an increase of 80.43% month-on-month (m/m), and an increase of 130.9% year-on-year (y/y). The total value was USD $588.82 million, representing an increase of 89.33% m/m, an increase of 117.21% y/y. In 2020, Chinese cotton imports totaled 9,912,346 bales (2,158,159 MT), an increase of […]

Read More