I don't understand why everybody is so suspicious about the lease price. They aren't selling seats for $30. The Exchange is far from shuting down and had a good fiscal year last year. I just want people to know this is a great place to trade.
quite a few successful futures traders started at the grain exchange and eventually moved to Chicago .....
Why would the seat owners lease so cheaply? They're only getting a 1% yield on their seat. What are the other benefits of ownership that would make you want to tie up that money for nothing?
Some of these guys own ten plus seats. I figure they just want to get people interested. Like I said not many people know about it. Most financial papers don't even list Minneapolis, which is silly if you as me.
If they are $30,000 now it has not been a bad investment. Back in 1996 when I was looking at going down there you could buy one for $7900, about 16% a year on a pretty passive invesment isnt bad. Brandon
hey ... what ever happened to the Mid Am ? they used to do some beans there in chicago many times trying to arb off the CBOT