Traders on the CME trading floor at 136 Lake Street, 1921

Connectivity Introduces New Commodities

Chicago and New York prosper as new products, people and possibilities pour into them — diversifying the mix of products in the marketplace. But World War I breaks out in Europe, and government price standards on food commodities stifle markets. Futures trading is temporarily banned, and exchanges sell liberty bonds to help the war effort and stay afloat.

Chicago’s South Water Street Market serves as the city’s primary wholesale produce market until it is relocated in 1925, but private deals and price fluctuations among buyers and sellers create an impetus to list more products on organized futures exchanges.

Sailors march in New York to promote liberty bonds, 1918

Chicago’s South Water Street Market, c. 1900