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The Onion Futures Act is a United States law banning the trading of futures contracts on onions as well as "motion picture box office receipts". [1] In 1955, two onion traders, Sam Siegel and Vincent Kosuga, cornered the onion futures market on the Chicago Mercantile Exchange. The resulting regulatory actions led to the passing of the act on ...
In the late 1950s, United States onion farmers alleged that Sam Seigel and Vincent Kosuga, Chicago Mercantile Exchange traders, were attempting to corner the market on onions. Their complaints resulted in the passage of the Onion Futures Act, which banned trading in onion futures in the United States and remains in effect as of 2024. [5]
Vincent W. Kosuga (January 17, 1915 – January 19, 2001) [1] was an American onion farmer and commodity trader best known for manipulating the onion futures market.Public outcry over his practices led to the passing of the Onion Futures Act, which banned the trading of futures contracts on onions.
Wall Street's main indexes were subdued in choppy trading on Wednesday, as investors anticipated an interest rate cut from the Federal Reserve in its final meeting of the year and awaited clues on ...
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Gray was a consultant for such policy and regulatory bodies as the Chicago Board of Trade, the Food and Agriculture Organization of the United Nations and the Commodity Futures Trading Commission, as well as an expert witness in a number of famous manipulation and tax cases. He was the first to study the feasibility of a futures market in ...
Wall Street's main indexes slipped on Tuesday, weighed down by technology stocks after a batch of upbeat economic data stoked uncertainty among investors about the pace of monetary policy easing ...
Vincent Kosuga - farmer and entrepreneur whose efforts to corner the onion futures market led to the 1958 Onion Futures Act; Cheryl Rogowski - farmer and recipient of a 2004 MacArthur Fellowship ("Genius Grant") for her work on community-supported agriculture [11]