search newsletter login upgrade

Soft Fork: All hail the Onion King

by Steven Zheng

June 13, 2019, 4:00PM EDT  ·  4 min read

Quick Take

  • Onions are the only agricultural product without a futures market
  • This is because of the actions of Vincent Kosuga, a farmer in the 1950s who ended up cornering the onion market

by Steven Zheng

June 13, 2019, 4:00PM EDT  ·  4 min read

We’re going to take a break this week from crypto to talk about the onion king. No, not that one. Our onion king’s name is Vincent Kosuga, and he is the reason onions are the only agricultural product not legally allowed to have a futures market.

Our story starts in the U.S.