4min chapter

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The tale of the Onion King (Update)

Planet Money

CHAPTER

Corner the Onion Market

In 19 55, Vince kasuga decides that he is going to corner the onion market. He starts buying up all the available future contracts on onions. By fall of 19 55 rolls around, vince kasuga has wrapped up the entire market. Basically, he cornered the market. And here's why cornering a market is such a big deal. People have to pay. Otherwise, no onions on burghers, and they'd have to eat scallion rings instead of onion rings. You can trade futures even if you're not a farmer. There is a whole exchange in chicago where they do it. If you just know in your heart that the price of onions is going

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