The Minneapolis Grain Exchange (MGE) has been conducting due diligence to establish a futures market for cottonseed. Meetings with all interested parties have been conducted, and all segments of the cottonseed industry have had direct input into the development of a contract for cottonseed. If approved by the Commodity Futures Trading Commission (CFTC), whole upland cottonseed will begin trading on the MGE within the next six months. The trading unit will be 120 tons, traded the months of January, March, May, August, and November. Minimum price fluctuations and daily price limits will be $0.10 per ton and $10.00 per ton respectively. Memphis, Tennessee is the par delivery location. Valdosta, Georgia, Lubbock, Texas, and Fresno, California are all delivery locations, with each location priced at either a premium or discount to Memphis. Par delivery grade will be basis grade 90 or better; however, there are provisions for the delivery of below par quality seed. Delivery will be based on shipping certificates with the short side of the contract initiating the delivery.