Re: How low can it go Literal true story
Mid 1960s, Onions NYMEX predecessor, EXCH. High prices one yr induced NJ farmers to go whole hoggerish, and plant scam artist to scam artist( al there is in NJ!) Come harvest, there were SO many onions the physical could not handle the volume. Futures went to zero, longs HAD to take delivery, box car delivery but also had NO place to sell or even physically move them. They rotted within 1-2 weeks, couldn't pass inspection for re-dilivery and EXCH rules : the longs had to payto emply ansd dispose the box cars and pay fo cleaning.in 1 week,.
" MARTY CAN THEY GO BELOW ZERO , NO RIGHT?, nO, YES THEY CAN WHITEBREAD". .