Corner

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Corner

For surveying purposes, the designation given to a particular location formed by the intersection of two boundary lines of real property.

The process by which a group of investors or dealers in a particular commodity exploit its market by purchasing it in large quantities and removing it from general sale for a time, thereby dramatically increasing its market price because its limited supply is greatly exceeded by the demand for it. The condition created when a commitment is made to sell at a special time of delivery in the future, a much greater quantity of a commodity than is available in the present market.

This type of commitment is known as a futures contract. Frequently, neither buyer nor seller expects actual delivery of the goods. They are solely speculating on the difference between the contract price and market price on a particular date. The market price is affected by various economic factors. When a corner is created, the demand for the commodity far exceeds its supply, thereby driving up market prices. On the date of delivery, therefore, the market price will exceed the contract price if no additional quantities can be delivered by persons other than the seller who has "cornered" the market. The buyer must then pay the seller, who had a corner on the specified commodity, the amount by which the market price exceeds the contract price. If, however, additional quantities of the commodity are available in the market, the seller incurs financial losses because the market price will be less than the contract price at which the market was "cornered."

The Commodity Futures Trading Commission is the federal regulatory agency charged with the administration of the Commodity Exchange Act (7 U.S.C.A. § 1 et seq.), which is designed to protect all commodity investors from manipulative practices that hinder the free flow of commerce. Anyone who deliberately exploits the commodities market to create a corner may be prosecuted under federal law for commission of a felony, punishable by a fine of not more than $500,000 or imprisonment of not more than five years, or both, plus the costs of prosecution.

See: border, edge, monopolize, perplex, plight, predicament, stand
References in periodicals archive ?
Cornas needs some rivals to underperform, but he does not have as much to find as many think and given how well he goes at the track the 16-1 looks too big.
The Hardy's HRB D637 2006 Shiraz is a blend of Clare Valley and Adelaide Hills grapes and retails at $39AUD, while the Auguste Clape is the benchmark flag carrier for the small appellation of Cornas with a price tag of $210AUD.
Last season's Arkle Trophy third landedtheWilliam HillGoldCupat Exeter on his seasonal reappearance and the form could hardly be stronger given the subsequent success of the runner-up Cornas and, even more notably, third-placed Twist Magic.
The Chante-Perdrix 2002 Cornas had sweet peppery fruit, and demonstrated the benefits of strict selection in a difficult vintage.
Cote Rotie, Cornas and Hermitage wines are the ones compared with Bordeaux and Burgundy but they still start at around pounds 10 per bottle.
heads up north, Cornas, Crozes-Hermitage, Hermitage and Saint-Peray will be tasted in Tain l'Hermitage; and
Carrying on the muscular red wine theme the JEAN-LUC COLOMBO CORNAS LES M[ETH]JEANS 2009 (RRP pounds 22.
In Laure's case, as the only child of Jean-Luc Colombo, one of the most influential wine-makers and consultants in the Rhne Valley, this means the privileged slopes of Cornas and its neighbour to the south, Saint-Pray.
35 Sandown Sporting (50:25:10) 19-22 Wishfull Thinking, 17-20 Somersby, 12-15 French Opera, Sanctuaire, 6-8 Cornas, 5-7 West With The Wind, 2-4 Dan Breen, Woolcombe Folly.
The great vineyards are St Joseph, Cornas, Hermitage, and Cote Rotie, with the great houses of the top companies, which include Guigal, Delas, Chapoutier, Jaboulet and Vidal Fleury.
Alan King's grey, restoring his reputation after novice chase defeats at Cheltenham and Aintree last spring, fended off Cornas by a length and a quarter as 2-1 favourite Captain Chris unseated Richard Johnson when looking a threat at the last.
It looks very competitive and I give a good shout to Nick Williams' CORNAS (2.