MGE CORN SYRUP FUTURES CONTRACT CLEARS HURDLE The staff of the Commodity Futures Trading Commission, CFTC, recommended that the regulatory agency approve the Minneapolis Grain Exchange's application to trade high fructose corn syrup-55, HFCS-55, futures contracts. The commission is expected to approve the application at a meeting tomorrow. The proposed contract would provide for the delivery of 48,000 lbs, plus or minus two pct, of bulk HFCS-55, a liquid food and beverage sweetener produced through processed corn starch by corn refiners. Under proposed rules, a shipping certificate has a limited life, as it expires 30 days following the last day of trading of the expiring contract month. A premium charge of 14.40 dlrs per contract per day would be assessed under the proposal.