MGE PLANNING APRIL 6 START UP OF HFCS CONTRACT The Minneapolis Grain Exchange (MGE) will start trading futures contracts in high fructose corn syrup on April 6 if the Commodity Futures Trading Commission (CFTC) approves the contract as expected next week. Pat Henderson, spokesperson for the MGE, said the exchange expects contract approval at CFTC's Tuesday meeting. It has been under review since the exchange submitted the proposal in December, 1985. The proposed contract is based on 48,000 pound lots of 55-pct high fructose corn syrup, the equivalent of one tank truck of the sweetening agent derived from corn in the wet milling process. The syrup, commonly called HFCS-55, is most commonly used as a sweetener in soft drinks and other beverages. Delivery would be by shipping certificate from production facilities designated by the exchange. The contract, designated by the symbol "HF," would trade from 0900 to 1315 CST. Months traded would correspond with the Chicago corn futures months of March, May, July, September and December. Contract price will be quoted per hundred weight, with a minimum price fluctuation of one cent and maximum fluctuation of one dlr per CWT. "We hope the producers and users of fructose will be actively involved, those producers being the large processors, the corn wet millers, and the users being the beverage bottlers," Henderson said. "But there are potentials for all types of people to use it. There is quite a list of industries that utilize fructose."