By Matthew Makowski The Chicago Mercantile Exchange (CME) recently added water futures to the list of contracts available to trade. This is big news because water has never been traded like this before. Prior to this development buying and selling water rights took place on the spot market.
For a deeper explanation of futures trading and how it works, click here.
This makes water – at least in the eyes of Wall Street – a commodity just like gold, oil and lean hog. The commodity started trading for $496 per acre-foot. Feelings on the commodification of this human necessity hasn’t been met with unanimity.
“As clean, …read more
