And Now Down 90%, the Iran War Made Potato Prices More Volatile Than Penny Stocks

Potato futures have shown extreme volatility, rising about 700% from roughly $2.30 to around $18.50 per contract in weeks, before collapsing more than 90% to about $1.40. The surge was driven not by a supply squeeze but by thin liquidity, speculative positioning, and geopolitical anxiety tied to the Iran conflict and broader energy-market tensions. The episode underscores how thinly traded commodities can produce outsized moves and poses questions about market structure and risk.