3min chapter

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Days of Futures Past Episode 1 | Scott Irwin, Professor, University of Illinois and Author of “Back to the Futures”

SmarterMarkets™

CHAPTER

The Commodity Futures Contract and the Wheat Market

Mark O'Mara: The wheat market is a fascinating case study of how the details of the Commodity Futures Contract can occasionally really matter and really matter in a surprising way. He says it was anywhere from a dollar to more than $2 above the cash price in delivery location elevators during the delivery period when these are supposed to be basically the same thing. "It really did appear like, wait, Mark, for some reason, just decided to blow up," he says.

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