A judge ruled against proposed CFTC position limits. The old rules stand. The new rules passed 3-2, with one pro vote expressing concern.
http://farmdocdaily.illinois.edu/2012/10/more_on_position_limits_excess.html
"Under Dodd-Frank, reducing these spot limits to as little as 25% of their current levels could require many hedgers to lift a portion of their hedges prior to final settlement, leaving them exposed to unfavorable price changes. In addition, since liquidity tends to decline as a contract approaches expiration, hedgers could have difficulty liquidating positions to reach these lower spot limits. This could cause them to refrain from hedging much of their expected purchases or sales in future periods."
