Grain Exchange Names Officers, Directors - October
MINNEAPOLIS–Minneapolis Grain Exchange (MGEX) owners re-elected
six members to the 2003-2004 board of directors on October 2.
They are Randal L. Narloch, ADM-Benson Quinn and Michael L. Ricks,
Cargill, Inc., representing Producers, Consumers, Processors, Merchandisers
and Distributors; Charles A. Gallup, floor trader, representing
the At Large category; Scott R. O’Donnell, Frontier Futures,
Inc., representing Futures Commission Merchants; Martin F. Farrell,
representing Floor Brokers; and Richard F. Diaz, representing Floor
Traders. Greg Konsor, ConAgra Foods, Inc. was newly elected
into the remaining At Large category.
Subsequently, at an October 13 organizational meeting, the MGEX
board of directors named 2003-2004 officers. The directors
elected Raymond F. Lottie, General Mills Operations, Inc., chairman;
Charles A. Gallup, floor trader, first vice chairman; and Scott
A. Cordes, Country Hedging, Inc., second vice chairman. Completing
the five-member Executive Committee are Steve N. Lennartson, floor
trader and Randal L. Narloch, ADM-Benson Quinn.
The board also elected three non-member directors with terms expiring
in October 2004. They are Curt Denisuik, director of commodity
risk management, Canadian Wheat Board; David W. Nelson, managing
director-Chicago branch, Rabobank International; and Tom Miller,
grain department manager, Farmers Cooperative Co. The board
will be naming a fourth non-member director within a few months.
MGEX, established in 1881, is the only market for hard red spring
wheat, Hard Winter Wheat Index (HWI), National Corn Index (NCI)
and National Soybean Index (NSI) futures and options. www.mgex.com