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U.S. Commodity Regulator Delays Speculation Caps Plan

The top U.S. commodities regulator delayed consideration of a plan to curb speculation in raw materials including oil, gold and wheat as part of the most sweeping rewrite of Wall Street rules since the 1930s.

The Commodity Futures Trading Commission postponed an expected vote today on publishing a two-part proposal to restrict the number of contracts one firm can hold for a 60-day public comment period. The plan, if approved, would limit traders to 25 percent of deliverable supply in the contract nearest to expiration, followed by an all-month ceiling of 10 percent of open interest up to the first 25,000 contracts and 2.5 percent thereafter.