Sam S. Siegel

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Sam S. Siegel

Sam S. Siegel was a Chicago produce wholesaler and trader at the Chicago Mercantile Exchange who with Vincent Kosuga cornered the onion futures market in the 1950s.[1]

Background

As a result of the manipulation of the onion market by Siegel, Vincent Kosuga and National Produce Distributors which saw prices drop from $2.75 per 50 lb. bag to 10 cents, Congress amended the Commodity Exchange Act to ban onion futures from trading.[2][3]

Education

References

  1. Vincent W. Kosuga, Sam S. Siegel, and National Produce Distributors. CFTC.
  2. The Secret Financial Life of Food: From Commodities Markets to Supermarkets. Google Books.
  3. Commodities:Odorous Onions. Time Magazine.