304 Statement of Cash Positions in Cotton

CFTC CODE NO.
COMMODITY FUTURES TRADING COMMISSION
STATEMENT OF CASH POSITIONS IN COTTON

OMB No. 3038-0009

Report as of close of business Friday (DATE)

NOTICE: Failure to file a report required by the Commodity Exchange Act and the regulations thereunder, or the filing of a false report, may be a
basis for administrative action under 7 U.S.C. Section 9, and may be punishable by fine or imprisonment, or both, under 7 U.S.C. Section 13, or 18
U.S.C. Section 1001. Public reporting burden for this collection of information is estimated to average 20 minutes per response, including the time for
reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of
information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing
st
this, to Agency Clearance Officer, Office of General Counsel, Commodity Futures Trading Commission, 1155 21 Street, NW, Washington, DC
20581; and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503.
PART I: FIXED-PRICE CASH POSITIONS
Report in hundreds of bales, i.e., 00 omitted. Convert products to cotton equivalent (500-lb. bales)
If you have no cash position, write “None” on the form and return it to CFTC
CASH
COMMODITY

Equity Stocks

LONG CASH
Non-Certificated
Certificated Stocks
Stocks

Purchase
Commitments

SHORT CASH
Sale
Commitments

Cotton
Cotton Products, including stocks in process of manufacture (specify)

Other*
(specify)
* Use this space to identify commodities you are cross hedging. Show quantities in terms of the commodity futures being used for hedging and use
PART II to show the quantities in terms of actual commodity.
PART II: FIXED-PRICE CASH POSITIONS IN CROSS HEDGED COMMODITIES
CASH COMMODITY
(SPECIFY COMMODITY OR PRODUCT)

UNITS

LONG CASH
Purchase
Stocks Owned
Commitments

SHORT CASH
Total Sale
Commitments

PART III: UNFIXED-PRICE COTTON “ON CALL”
Report in hundreds of bales, i.e., 00 omitted
Include under “Call Purchases” stocks on hand for which price has not yet been fixed
DELIVERY
MONTH

DELIVERY
YEAR

CALL
PURCHASES

CALL
SALES

DELIVERY
MONTH

DELIVERY
YEAR

FURTHER EXPLANATION/CORRECTION OF PREVIOUS REPORTS

CFTC FORM 304 (05-93)
Previous Editions Obsolete

CALL
PURCHASES

CALL
SALES

INSTRUCTIONS FOR PREPARING AND FILING REPORTS ON CFTC FORM 304
(See Regulations Under the Commodity Exchange Act)
PARTS I & II FIXED-PRICE CASH POSITIONS IN COTTON AND COTTON PRODUCTS
WHO MUST REPORT: (1) All persons holding or controlling futures positions that are reportable
pursuant to Regulation 15.00(b)(1)(ii) any part of which constitute bona fide hedging positions as defined in
Regulation 1.3(z). (2) All persons holding or controlling futures positions that are reportable pursuant to
Regulation 15.00(1)(i) who have received a special call from the Commission or its designee as specified in
Regulation 19.00(a)(3).
WHAT TO REPORT: Report your total cash position in each category listed below excluding from the
CFTC 304 report only those commodities, products, and by-products that you normally exclude when determining
your cash position for hedging. When reporting cotton products, list on a separate line each type of product you
own or have contracted to buy or sell at a fixed-price. Include unfinished products made from cotton not included
elsewhere.
1. Equity Stocks. The quantity of equity cotton (“cotton in the loan”) that you have with the Commodity
Credit Corporation under the provisions of the Upland Cotton Program of the Agricultural Stabilization and
Conservation Service of the U.S. Department of Agriculture.
2. Certificated Stocks. The quantity of certificated cotton that you own.
3. Non-Certificated Stocks. The quantity of cotton and cotton products that you own and have paid for
at fixed prices, excluding certificated cotton.
4. Open Purchase and Sale Commitments. The quantity of open fixed-price cash purchases and sales of
cotton and cotton products.
If you are “cross-hedging” a commodity in cotton futures, report the entire quantity of stocks owned
and fixed-price purchases and sales of the commodities you are cross-hedging in the space labeled “Other.” The
quantities should be converted to the equivalent amounts of the commodity future being used for hedging. If you
included “cross-hedged” cash commodities in Part 1 of this report, you must also report the entire quantity of stocks
owned and open fixed-price purchases and sales of the commodity you are cross-hedging in terms of the actual
commodity in Part II.
WHEN TO REPORT: Report monthly as of the close of business on the last Friday of the month.
Reports must be received in the Commission’s New York office not later than the second business day following the
Friday date of the report. Filings made in response to a special call under Regulation 19.00(a)(3) shall be made
within one business day of that call unless otherwise specified in the call.
PART III UNFIXED-PRICE COTTON “ON CALL”
WHO MUST REPORT: Cotton merchants and dealers holding or controlling futures positions that are
reportable pursuant to Regulation 15.00(b)(1)(i).
WHAT TO REPORT: Report unfixed-price “on call” purchases and sales by the New York Board of
Trade futures contract month on which they are based. Specify if transactions are based on anything other than New
York Board of Trade futures.
WHEN TO REPORT: Report weekly as of the close of business Friday. Reports must be received in the
Commission’s New York office not later than the second business day following the Friday date of the report.
GENERAL PROVISIONS
WHERE TO REPORT: CFTC Eastern Regional Office, 140 Broadway, 19th Floor, New York, NY,
10005, (646) 746-9770, facsimile (646) 746-9941 or 9942, except as otherwise authorized by the Commission or its
designee.
To ensure receipt of the report by its due date, either transmit the report by facsimile, or report the
information contained on the form to the Commission by telephone and mail the report not later than midnight of its
due date.
Use standards and conversion factors usual and common to your business.
If you have no cash position, write “NONE” on the form and return it to the CFTC.
If inter-company or intra-office purchases and sales of cotton or cotton products are included in your
positions, you must show for each related company or office the quantities of cotton or cotton products involved.