The Commodity Futures Trading Commission on July 2 issued an order filing and settling charges against Elephas Investment Management Ltd., a Hong Kong based hedge fund, for violating wheat futures speculative position limits. The order found that on Nov. 29, 2017, Elephas held a net long position in the Chicago Board of Trade’s December 2017 soft red winter wheat futures contract of more than 1,000 contracts in excess of the spot month speculative position limit established by the CFTC.