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Commodities: Difference between revisions
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| Anything else || Yes|| Yes | | Anything else || Yes|| Yes | ||
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The CFTC regards as a “commodity” any service, right or interest for which a futures contract exists, or could exist in the future. The CEA classifies commodities into three categories: | |||
*“agricultural commodities”: wheat, cotton, corn, soybeans, tobacco and livestock and so on BUT NOT ONIONS. | |||
“excluded commodities” include financial instruments, such as rates, currencies, securities and indices. | |||
“exempt commodities.” Is anything else, and include energy and metals. | |||
===Onions==== | ===Onions==== | ||
Onion futures are forbidden in the United States since two onion traders cornered the market on the CME in 1955. True Story. The Onion Association lobbied hard at the time of Dodd-Frank to ensure things stayed that way. Also a true story. | Onion futures are forbidden in the United States since two onion traders cornered the market on the CME in 1955. True Story. The Onion Association lobbied hard at the time of Dodd-Frank to ensure things stayed that way. Also a true story. | ||