Grain Futures Act of 1922

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Grain Futures Act of 1922

Legislation in the United States that required all futures contracts on grain to be traded on a futures exchange. It also required these exchanges to publish more information and prevent price manipulation. It created the Grain Futures Commission, which was the predecessor organization of the Commodity Futures Trading Commission. It replaced the Futures Trading Act of 1921, which was declared unconstitutional. See also: Board of Trade of City of Chicago vs. Olsen.
References in periodicals archive ?
The objective of the Grain Futures Act of 1922 was to reduce or eliminate "sudden or unreasonable fluctuations" in the prices of grain on futures exchanges.
The Commodity Exchange Act of 1936 and its predecessor the Grain Futures Act of 1922 were a response to the perceived problems of manipulation of grain markets that were particularly evident in the latter part of the nineteenth and early part of the twentieth centuries.