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: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...