Key Takeaways:
A student group from the University of Chicago is protesting to bring back onion futures trading.
Trading in onion futures was banned in 1958 following a spectacular bout of market manipulation that resulted in a corner of the physical market.
The ban on onion futures led to adverse impacts for onion farmers and the Chicago Mercantile Exchange and sparked serious academic work highlighting the role of futures and speculation in stabilizing prices.
Congress’ ban on onion futures, now 68 years old, is increasingly nonsensical with the rise of online betting platforms and markets such as Kalshi that allow users to “hedge” their exposure to all manner of absurdities.
The Details: President Eisenhower is...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
