CFTC APPROVES MGE CORN SYRUP FUTURES CONTRACT The Commodity Futures Trading Commission has approved the Minneapolis Grain Exchange's application to trade high fructose corn syrup-55, HFCS-55, futures contracts, the commission said. The contract provides for the delivery of 48,000 lbs, plus or minus two pct, of bulk HFCS-55 meeting specified standards regarding its physical and chemical properties. CFTC said the exchange plans to begin trading a July 1987 HFCS-55 contract on April 6. CFTC said the soft drink industry currently buys at least 95 pct of all U.S.-produced HFCS-55, a liquid food and beverage sweetener produced through the processing of corn starch by corn refiners.