Missouri Official Blasts Hedge Funds For ‘Price Manipulation’

Apr 24 2008 | 2:35pm ET

Missouri’s attorney general has asked the U.S. Commodity Futures Trading Commission to step in to protect farmers from hedge funds and other commodities speculators.

In a letter to the Commission, Jay Nixon, a Democrat, complains that, “Wall Street gambling on grain hasn’t had a positive impact on Main Street, Missouri.” The CFTC is holding a roundtable today on the influence of speculators in commodities markets.

Nixon wants the regulator to take measures to protect consumers and farmers from alleged price manipulation on the part of commodity investors.

“Farming already brings enough uncertainty without the introduction of outside players into the sensitive markets in which farmers sell their goods,” Nixon, who is running for governor this year, wrote. “I urge the CFTC to step in and reduce the influence of speculators and give farmers the benefit of the bargained-for price on these contracts.”

“Farmers are not getting the full benefit of their hard work, and consumers are experiencing sticker shock in the cereal aisle,” he added. “Much of this is because speculators, who are neither producers nor consumers, are manipulating prices, and they are the primary beneficiaries.”


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.