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Chicago Board Of Trade To Launch Mini-Sized Agricultural Futures Contracts

Date 25/03/2003

Complementing its existing grain and soybean complexes, the Chicago Board of Trade (CBOT) will launch mini-sized Corn, Wheat, and Soybean futures on Monday, April 7, 2003. These new mini-sized grain contracts will trade in the CBOT's open auction marketplace, and mark the final phase of conversion of MidAmerica (MidAm) Commodity Exchange contracts to the CBOT's mini-complex.

The MidAm, an affiliate of the CBOT, was decommissioned in 2001. The first phase of conversion to the CBOT's mini complex, completed in the third quarter of 2001, included U.S. Treasury Bonds and Notes, Gold, Silver, and Eurodollars. These contracts are traded exclusively on the CBOT's electronic trading platform.

CBOT® Chairman Charles P. Carey said, "Following the close of trading on April 4th, open interest in the MidAm products will be transferred to the corresponding CBOT mini-sized products, resulting in enhanced spread opportunities for our members and customers. Additionally, CBOT customers now will have the benefit of using the exchange's electronic order routing system for mini-sized Corn, Wheat and Soybean contracts. The electronic order routing system routes orders electronically into the pit, allowing orders to be filled more quickly and efficiently."

CBOT market data fees for mini-sized Corn, Wheat, and Soybeans have been waived. The contracts will be traded Monday through Friday, from 9:30 a.m. to 1:45 p.m. (Central Time).

For more information on CBOT markets and members, log onto the exchange web site at www.cbot.com