#2 No more than 1,000 [599] futures-equivalent contracts net on the same side of the market are allowed
in a single month in all strike prices combined. Additional options contracts may be held as part of
option/options or option/futures spreads between months within the same crop year provided that the total
of such positions, when combined with outright positions, does not exceed the all months combined limit.
The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#3 No more than 13,500 [9,500] futures-equivalent contracts net on the same side of the market are
allowed in a single month in all strike prices combined. Additional options contracts may be held as part
of option/option or option/futures spreads between months within the same crop year provided that the
total of such positions, when combined with outright positions, does not exceed the all months combined
limit. The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#4 No more than 6,500 {5,000} futures-equivalent contracts net on the same side of the market are
allowed in a single month in all strike prices combined. Additional options contracts may be held as part
of option/option or option/futures spreads between months within the same crop year provided that the
total of such positions, when combined with outright positions, does not exceed the all months combined
limit. The futures-equivalents for both the options and futures contracts are aggregated to determined
compliance with these net same side single month position limits.

#5 In the last five trading days of the expiring futures month, the speculative position limit for the July
futures month will be 200 contracts and for the September futures month the limit will be 250 contracts.

#6 No more than 1,400 [4,200] futures-equivalent contracts net on the same side of the market are
allowed in a single month in all strike prices combined. Additional options contracts may be held as part
of option/option or option/futures spreads between months within the same crop year provided that the
total of such positions, when combined with outright positions, does not exceed the all months combined
limit. The futures-equivalents for both the options and futures contracts are aggregated to determined
compliance with these net same side single month position limits.

#7 No more than 5,000 [4,000] futures-equivalent contracts net on the same side of the market are
allowed in a single month in all strike prices combined. Additional options contracts may be held as part
of option/option or option/futures spreads between months within the same crop year provided that the
total of such positions, when combined with outright positions, does not exceed the all months combined
limit. The futures-equivalents for both the options and futures contracts are aggregated to determine
compliance with these net same side single month position limits.

#8 In the last five trading days of the expiring futures month in May, the speculative position limit will be
600 contracts if deliverable supplies are at or above 2,400 contracts, 500 contracts if deliverable supplies
are between 2,000 and 2,399 contracts, 400 contracts if deliverable supplies are between 1,600 and
1,999 contracts, 300 contracts if deliverable supplies are between 1,200 and 1,599 contracts, and 220
contracts if deliverable supplies are below 1,200 contracts. Deliverable supplies will be determined from
the CBOT's Stocks of Grain report on the Friday preceding the first notice day for the May contract month.
For the purposes of this Appendix, one mini-sized Wheat contract shall be deemed to be equivalent to
one-fifth of a corresponding Wheat contract.

#9 The aggregate position limit in CBOT mini-sized DowTM ($5 multiplier) futures and CBOT DJIA”
futures and options is 50,000 DJIATM contracts, net long or net short in all contract months combined. For
the purposes of this Appendix, one mini-sized DowTM ($5 multiplier) contract shall be deemed to be
equivalent to one-half of a DJIAS futures contract.

#10 The net long or net short positions in Corn, Soybeans, or Wheat contracts may not exceed their
respective position limits. The net long or net short positions in mini-sized Corn, mini-sized Soybeans, or
mini-sized Wheat contracts may not exceed their respective position limits. The aggregate net long or net
short positions in Corn and mini-sized Corn, Soybeans and mini-sized Soybeans, or Wheat and mini-
sized Wheat contracts may not exceed their respective position limits. For the purposes of this Appendix,
one mini-sized Corn, one mini-sized Soybean, or one mini-sized Wheat contract shall be deemed to be
equivalent to one-fifth of a corresponding Corn, Soybeans, or Wheat contract.



*SPOT. *SINGLE *ALL *REPORTABLE *REPORTABLE
ICONTRACT. MONTH MONTH MONTH FUTURES LEVEL | OPTIONS LEVEL
10-Year Interest Rate Swap None None None 500 500
5-Y ear Interest Rate Swap None None None 500 500
ICBOT Dow Jones Industrial None None 50,000 200 200
lAverageTM Index (aggregate
DJIATM limit,
see #9)
ICBOT mini-sized DowTM ($5 None None 50,000 200 200
multiplier) (aggregate
DJIATM limit,
see #9)
i\CBOT Dow Jones-AIG Commodity None None 15,000 25
lindexTM __
iCBOT 5,000 oz. Silver 1,500 6,000 6,000 150
ICBOT 100 oz. Gold 3,000 6,000 6,000 200
ICBOT mini-sized Silver 1,500 1,500 3,000 750
iCBOT mini-sized Gold 4,000 4,000 6,000 600
U.S. Treasury Bonds (see #13) None None 1,500 1,500
|U.S. Treasury Notes (Syr.) (see #13) None None 2,000 2,000
jU.S. Treasury Notes (6 1/2-10yr.) (see #13) None None 2,000 2,000
U.S. Treasury Notes (2yr.) (see #13) None None 1,000 1,000
30 Day Fed Fund None None None 600 600
10-Year Municipal Note Index 5,000 None 5,000 300
Imini-sized Eurodollars 10,000 10,000 10,000 400
Com and CBOT mini-sized Com 600 13,500 22,000 250 250
(aggregate, | (aggregate, | (aggregate, see (individual,
see #10) | see #1, 10) #1, 3, 10) see #11)
Soybeans and 600 6,500 10,000 150 150
ICBOT mini-sized Soybeans (aggregate, | (aggregate, | (aggregate, see (individual,
see #10) | see #1, 10)| #1, 4, 10) see #11)
South American Soybeans 600 3,500 5,500 25
(see#12) | (see#l) | (see #1) _ —
Wheat and 600 5,000 6,500 150 150
ICBOT mini-sized Wheat (aggregate, | (aggregate, | (aggregate, see (individual,
see #8, 10) | see #1, 10) #1, 7, 10) see #11)
Oats 600 1,400 2,000 60 60
(see #1) (see #1,6)
Rough Rice 600 1,000 1,000 50 50
(see#5) (see#2) _
Soybean Oil 540 5,000 6,500 200 200
(see #1,7) | _(see #1,7)
Soybean Meal 720 5,000 6,500 200 200
(see #1,7) (see #1,7)
Soybean Crush Options N/A 1,000 1,000 100
{see #1)
Ethanol 200 1,000 1,000 25

#1 Additional futures contracts may be held outside of the spot month as part of futures/futures spreads
within a crop year provided that the total of such positions, when combined with outright positions, do not
exceed the all months combined limit. In addition, a person may own or control additional options in
excess of the futures-equivalent limits provided that those option contracts in excess of the futures-

equivalent limits are part of an eligible option/futures spread.



#11 The reporting level for the primary contract is separate from the reporting level for the mini-sized
contract. Positions in any one month at or above the contract level indicated trigger reportable status.
For a person in reportable status, all positions in any month of that contract must be reported. For the
purposes of this Appendix, positions are on a contract basis.

#12 In the last five trading days of the expiring futures month, the speculative position limit for the
November futures month will be 180 contracts and for the January futures month the speculative position
limit will be 365 contracts.

#13 In the last ten trading days of the expiring futures month, the following position limits in the expiring
contract will apply: U.S. Treasury Bonds — 25,000 contracts; U.S, Treasury Notes (6% - 10 Year) —
50,000 contracts; U.S. Treasury Notes ( 5 Year) — 35,000 contracts; U.S. Treasury Notes (2 Year) -
25,000 contracts. No hedge exemptions will be permitted with respect to these limits.


February 16, 2006

Ms. Jean A. Webb

Secretary

Commodity Futures Trading Commission
Three Lafayette Center

1155 21* Street, N.W.

Washington, D.C. 20581

Reference File # 2636.01
Rule Certification
Dear Ms. Webb:

Pursuant to Commission Regulation 40.6(a), the Chicago Board of Trade (CBOT®) hereby
submits the following:

- Amendments to CBOT Rulebook Appendix 4C per the attached text
(additions underlined; deletions bracketed and struck through).

Rulebook Appendix 4C, which is incorporated by reference in Regulation 425.01, sets forth
Exchange speculative position limits and reportable position levels for CBOT futures and
options. The referenced amendments represent typographical updates to the Appendix as
summarized below.

- Footnotes #2 through #4, #6, and #7 are designed and intended to refer to the current
“single month” position limits for specified products (i.e., #2 to Rice, #3 to Corn, #4 to
Soybeans, #6 to Oats and #7 to Wheat, Soybean Oil and Soybean Meal). These footnotes
now reflect previous single month limits which no longer are in effect. The referenced
amendments will bring the footnotes back into conformity with the correct, current single
month limits.

- The position limits and reportable position level for Soybean Crush Options, which
previously were certified for inclusion in Regulation 425.01 (CBOT submission #2354.01
dated August 29, 2003) are being moved into Appendix 4C, consistent with the current
format of these provisions.


February 16, 2006
Ms. Jean A. Webb
Page Two

There were no opposing views concerning these amendments.

The CBOT intends to implement these amendments one day after the Commission’s receipt of
this filing.

The CBOT certifies that these amendments comply with the Commodity Exchange Act and the
tules thereunder.

Sincerely,

Paul J. Draths
Vice President and Secretary


APPENDIX 4C
POSITION LIMITS AND REPORTABLE POSITIONS
The following are definitions of titles used in the position limit chart contained in this Appendix -

Spot Month- Spot month futures-equivalent position limit net long or net short effective at the start of trading
on the first business day prior to the first trading day of the spot month.

Single Month- Futures-equivalent position limit net long or net short in any one month other than the spot
month.

All Months -Position limit net long or net short in all months and all strike prices combined. Note: Long
futures contracts, long call options, and short put options are considered to be on the long side of the market
while short futures contracts, long put options, and short call options are considered to be on the short side of
the market. For each commodity, the futures-equivalents for both the options and futures contracts are
aggregated to determine compliance with the net long or net short same side position limits.

Reportable Futures Level-Reportable futures position in any one month.

Reportable Options Level-Reportable options position in any one month in each option category. Note:Option
categories are long call, long put, short call, and short put.

Net Equivalent Futures Position-Each option contract will be adjusted by the prior day’s risk factor, or delta
coefficient, for that option which has been calculated by the Exchange’s Clearing Services Provider

For the purpose of this Append

(0) An option contract's futures-equivalency shall be based on the prior day's delta factor for the option
series, as published by the Exchange’s Clearing Services Provider. For example, 8 long put contracts,
each with a delta factor of 0.5, would equal 4 futures-equivalent short contracts.

(ii) Long futures contracts shall have a delta factor of +1, and short futures contracts shall have a delta
factor of -1.

(iii) Long call options and short put options shall have positive delta factors.
{iv) Short call options and long put options shall have negative delta factors.

(vy) An eligible option/option or option/futures spread is defined as an intra-month or inter-month position
in the same Chicago Board of Trade product in which the sum of the delta factors is zero.

(Note: All position limits and reportable positions are in number of contracts and are based on futures
or Net Equivalent Futures Positions, as defined above.