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Further Clarification
Thanks guys but can you further clarify something. I've pulled more info off the CBOT site regarding the SOYBEAN MEAL contract:
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1008.01A Trading Limits The Crude Soybean Oil and Soybean Meal Committee has been asked to interpret the following sentence: "These provisions (trading limits) shall not apply to trading in the current month on or after the first notice day thereof." The question that arises is whether this means the first business day of the delivery month or the first notice day of the contract which would be the last business day of the previous month. The Committee is of the opinion that it is the intention of the Regulations that the meaning of the sentence includes the first notice day which is the last business day of the month preceding the delivery month. 36R (09/01/94)
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Cooter, see the sentence that reads (in your e-mail pulled from the Soybean Meal Contract Specifications): No limit in the spot month (limits are lifted beginning on First Position Day).
Does it actually mean, daily limits are in effect during the spot month before the First Position Day of that spot month?
When it just says "No limit in the spot month" - this is only covering the time between the First Position Day and the Last Trade Date right?
I find this a bit confusing. That same statement is present for pretty much all the ags on CBOT.
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