FAQ
Is this legal?
Yes, to the best of our knowledge. 7 U.S. Code § 13-1 prohibits "contract[s] for the sale of [...] onions for future delivery [...] on or subject to the rules of any board of trade in the United States." The San Francisco Onion Futures Company is not a board of trade, defined as an "organized exchange or other trading facility". We sell contracts privately to individual buyers, and do not operate any exchange or secondary market.
How does the delivery process work?
In the first week of each contract's delivery month, a representative of the San Francisco Onion Futures Company will contact the registered owner to arrange delivery. Usually, contract owners will be given a list of possible times and locations at which they can collect their onions. If a contract owner is not available for any of these, or if they are outside of our primary delivery areas, delivery may be handled by a third party at no extra charge.
Our primary delivery areas are San Francisco, Toronto, Seattle, and Chicago (via For Our Futures). If you would like to become a delivery partner for another area, please email [email protected].
How are prices determined?
Contract prices for each month are recalculated daily at midnight San Francisco time using a proprietary algorithm.
How do I update my contact or delivery information?
Visit the contract management page and look up your contract key(s). After entering your new information, you will be issued new keys registered to your updated information, and the old ones will become void.
Can I resell or transfer my contracts?
Yes. You will be given a unique key for each contract you purchase. If you give this key to someone, they can use it to update the registered contact and delivery information for the contract. This will void the old key and reissue the contract under a new one, ensuring that you or any previous owners can't change the registered information back. There is no way to view the registered delivery information for a given key, so you're not exposing your information by sharing it.
Do you offer refunds or cash settlement?
No. You are free to resell your contract keys up until the start of their delivery months. Please note that although we will do our best to contact you and deliver your onions, no refunds are offered even in the case of a failed delivery.
How can I get in contact with you?
Email [email protected] or contact the proprietor.