House Ag Committee Holds FTX Hearing

On May 12th, the House Agriculture Committee held a hearing on “Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models.” Committee Chairman David Scott (D-GA) said that he had serious concerns about the risks the FTX proposal would pose to derivatives markets’ primary functions of price discovery and risk hedging. Several members on both sides of the aisle voiced concerns that FTX’s proposal would lead to either FTX or other exchanges offering a similar model for traditional ag commodities such as cotton which would be problematic for commercial hedges. CME Group CEO Terry Duffy said that, if the Commodity Futures Trading Committee (CFTC) approves this proposal for FTX, he will have no choice but to begin offering similar lower-cost products with less risk controls for traditional markets to remain competitive. Duffy said that the CFTC should approach this issue through a CFTC rulemaking process, not through the approval of a single proposal.

More here.

More Advocacy Issues

ACSA Update: The Week Ahead

May 27^th, 2025

Please use the link below for a glance at the upcoming events for the week of May 26. Document here.

Dudley Hoskins Support Letter

May 23^rd, 2025

ACSA, along with other organizations, signed onto a letter in support of Dudley Hoskins’ nomination to be the Under Secretary of Agriculture for Marketing and Regulatory Programs (MRP). Letter here.

ACSA Urges CFTC to Reject 24/7 Trading and Be Cautious of Perpetual Derivatives Contracts

May 22^nd, 2025

Request for Comment on Trading and Clearing Derivatives on a 24/7 Basis Request for Comment on Perpetual Derivatives

Upcoming Surface Transportation Reauthorization: ATWG Priorities Letter

May 1^st, 2025

The U.S. agriculture industry is urging Congress to prioritize rural and agricultural transportation needs in the upcoming reauthorization of surface transportation programs. Key requests include timely reauthorization, increased investment in infrastructure, modernization of trucking regulations, and streamlining project approvals to improve efficiency, safety, and economic vitality in rural America. Letter here.

Coalition Letter to Senate Ag

April 7^th, 2025

A coalition of agricultural groups, including the American Cotton Shippers Association, urged the Senate Agriculture Committee leadership to confirm Stephen Vaden as deputy Agriculture secretary. He currently serves as a judge on the U.S. Court of International Trade. Letter here.

USTR Section 301 China Shipbuilding Proposed Remedies

March 24^th, 2025

The American Cotton Shippers Association, along with over 300 other associations representing a broad range of industries, urged the Office of the U.S. Trade Representative (USTR) to refrain from implementing the proposed measures in response to the Section 301 investigation into China’s efforts to dominate the maritime, logistics, and shipbuilding industries. Letter here.