Commodity Futures Trading Commission
On the outskirts of the futures exchanges there is an important regulatory body called the Commodity Futures Trading Commission, or, CFTC for short. The CFTC is an independent federal regulatory agency that was created in 1974 and is tasked with overseeing and regulating U.S. derivatives markets.
One of the responsibilities that the CFTC manages is the setting and enforcement of position limits on an array of futures contracts, which include grain futures. These position limits help prevent excessive speculation and market manipulation.