>but I seriously doubt any capability for injecting speculation via "placement". You're reading my text too literally. I don't mean to an arm from the sky put

>but I seriously doubt any capability for injecting speculation via "placement". You're reading my text too literally. I don't mean to an arm from the sky put speculators in the middle of the wheat market. As you correctly mention, an open market will attract those who exercise self-interest. Speculators are thereby effectively "placed" in a designed market by not regulating them out.