#132 Making the Market: The Story of Rice Futures

The rough rice futures contract is a little understood device intended to provide price discovery and risk management. From humble beginnings in New Orleans, the rough rice contract grew into a vitally important tool that has helped the U.S. rice industry compete in the global market. Michael Klein went back to the very beginning to talk with Jerry Morris who was at the table when the contract was just a concept and still trades today. Brian King explains how the contract is used, Fred Seamon talks the basics of futures, and Randy McNeil shares how the rice merchants fit in. With special guests: Jerry Morris Randy McNeil, President, Poinsett Rice & Grain Brian King, Owner, K & T Agri Fred Seamon, Executive Director, Agricultural Markets, CME Group Hosted by: Michael Klein