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United States Senator Tommy Tuberville (R-AL) recently disclosed $250,000 in futures trading in wheat, corn, soy and cattle.
On Aug. 14, Tuberville — who sits on the Senate Committee on Agriculture, Nutrition, and Forestry — reported multiple agricultural trades through June and July, all in the range of $1,000 to $15,000.
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The former college football coach’s trades caught the attention of Unusual Whales, a data hub dedicated to market transparency and exposing trades that may represent conflicts of interest among U.S. politicians.
“He literally influences agricultural futures via legislation and is trading it actively,” Unusual Whales wrote on X, formerly known as Twitter, before pointing out Tuberville has “previously, scored some big gains on futures in wheat, corn and soy.”
Tuberville, who also serves on the Senate Armed Services Committee, also made three separate purchases of stock in Humacyte (HUMA) — a small biotech company that recently shared the success of their new medical tech in helping treat Ukrainian soldiers' combat wounds — in amounts between $3,000 and $45,000. When he purchased the stock in July, the price per share was $2.87. On August 15, the stock reached its highest price since May of $4.48, Newsweek recently reported.
The U.S. public have had enough
This isn’t the first time Tuberville has been a target over his trades. In 2021, he violated federal transparency laws when he failed to properly disclose trades worth upwards of $3.56 million, according to a Business Insider analysis.
“It is not only him. Members of Congress have inside knowledge of transpiring trends in the stock market,” one X user wrote in response to the Unusual Whales post.
Several high profile politicians — including Rep. Nancy Pelosi (D-CA) and Sen. Thomas Carper (D-DE) — have been accused of using their connections, influence and insider information to score winning deals.
Those alleged conflicts of interest have riled up the U.S. public, where there’s growing support for a total ban on stock trading among members of Congress, according to a recent survey by the University of Maryland’s Program for Public Consultation.