"NEW YORK: The Commodity Futures Trading Commission said Friday that it has approved a proposal to limit the number of agricultural delivery instruments that non-commercials can own.

The proposal from the Chicago Board of Trade, which is owned by CME Group (CME), is intended to improve convergence of cash and futures prices. As part of the market’s risk management function, cash prices are supposed to converge, or come together, with futures when futures contracts enter delivery.

The new limits will apply to corn, wheat, oat, rough rice, soybean, soybean oil and soybean meal contracts."