The board of directors at the Chicago Board of Trade voted unanimously this week to increase the speculative trading position limits for corn, wheat, soybeans, soy meal and soy oil.
Pending approval by the Commodity Futures Trading Commission, the increase would be implemented in stages beginning in May or June. A survey conducted in February on the trading floor indicated a majority of traders favored the increase.
Analysts said the increase gives speculators more "elbow room" in a growing market, and also provides more opportunities for hedgers. It's expected trading also will become more liquid because of increased floor activity.