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Intercontinentalexchange Inc Takes Emergency Steps To Set Cotton Premiums On USDA Shutdown-Reuters


Wednesday, 2 Oct 2013 06:27pm EDT 

Reuters reported that Intercontinentalexchange Inc said that it has taken emergency measures to assess premiums and discounts for its October cotton contract CTV3 due to the closure of the U.S. Department of Agriculture (USDA). If the premiums and discounts, which are published by the USDA, are not available by the specific notice day for delivery against the contract, the exchange will use the most recent USDA data published. The USDA released its last data on September 30 before closing due to the partial federal government shutdown. It is unclear when government offices may reopen. The last delivery date for the October contract, which expires on October 9., is October 23, according to the exchange's website. 

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