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Understanding
Quotes
Table
of Contents
The
4 Major Grain Markets: Wheat, Corn, Soybeans, and
Oats, the price is quoted in cents per bushel for both futures
and options. Example: a price quote of3092 or 309 ¼ equals
$3 and 9 ¼c per bushel (5000-bushel contract). The minimum
move in these markets is ¼c, which is $12.50. 1c =
$50.00
Soy
Meal is quoted in dollars per ton. Example: a price
quote of 164.50 or 1645 equals $164 and 50c per ton (100-ton
contract). Some quote services drop the last zero because the
market moves in 10c increments. A change of + .40 or 4
represents 40c although it will commonly be stated as 40
points. In our example the profit for the day would be $40.00.
1 cent/point = $1.00
Bean
Oil is quoted in dollars per 100 pounds. Example: a
price quote of 16.57 or 1657 equals $16 and 57c per 100
pounds. Some quote services leave off the decimal point. The
market moves in 1c increments. A change of + 13 represents 13c
although it will commonly be stated as 13 points. In our
example the profit/loss for the day would be $78.00. 1
cent/point = $6.00
Meat
Markets are quoted in cents per pound. Although the
contract size and point value may very for each of the
different products, the same rules for figuring profit/loss
apply. Example: in Feeder Cattle, a price quote of 85.20 or
8520 equals 85c and 20 one hundredths of a cent per pound
(50,000 pound contract) A change of +33 or .33 represents 33
points. In our example the profit/loss for the day would be
$165.00 in feeder cattle 1 point = $5.00. The easiest
way to calculate profit/loss or risk in these markets is to
drop your decimal and use the point value for that particular
product.
Foods/Softs
Markets are quoted in cents per pound for coffee,
sugar, cotton, and orange juice. Although the contract size
and point value may very for each of the different products,
the same rules for figuring profit/loss apply. Example: in
Cotton, a price quote of 56.89 or 5689 equals 56c and 89 one
hundredths of a cent per pound (50,000 pound contract). A
change of +22 or .22 represents 22 points. In our example the
profit/loss for the day would be $110.00 in cotton 1 point
= $5.00. The easiest way to calculate profit/loss or risk
in these markets is to drop your decimal and use the point
value for that particular product.
Cocoa
is quoted is dollars per ton. Example: a price quote of 845
equals $845.00 per ton (10 Metric ton contract). A change of
-16 represents $16.00 although you will commonly hear it
stated as 16 points. In our example, the profit/loss for the
day would be $160.00. 1 dollar/point = $10.00
Metal
Markets are quoted in dollars per ounce for gold,
platinum, and palladium. Although the contract size and point
values will vary for each of the different products, the same
rules for figuring profit/loss apply. Example: in Gold, a
price quote of 287.90 or 2879 represents $287 and 90c per
ounce since the minimum move for gold is 10c you will often
see the last zero dropped. A change of +1.10, 110, or 1.1
equals $1.00 and 10c you will also hear it quoted as 110
points. In our example, the profit/loss for the day would be
$110.00. The easiest way to figure profit/loss is to drop your
decimal and multiply times the point value. 1 cent/point =
$1.00 1 dollar = $100.00
Silver
is quoted in cents per ounce. Example: a price quote of
545.50 or 5455 represents 545 cents and 5 tenths of a cent per
ounce, since the minimum move for silver is 1/10 of a cent,
you will often see the zero dropped. A change of – 6.4
represents 6 cents and 4 tenths of a cent. In our example, the
profit/loss for the day would be $320.00. 1
cent = $50.00
Copper
is quoted in cents per pound. Example: a price quote of
84.65 or 8465 equals 84 cents and 65 one hundredths of a cent
per pound. A change of + .37 or 37 represents 37/100ths of a
cent you will normally hear it quoted as 37 points. In our
example, the profit/loss for the day would be $92.50. 1
point = $2.50
Energy
Markets are quoted in cents per gallon for heating
oil and unleaded gas. Example: a price quote in unleaded of
74.10 or 7410 equals 74 cents and 10 one hundredths of a cent
per gallon. A change of - .75 or 75 represents 75/100ths of a
cent, you will usually hear it quoted as 75 points. In our
example, the profit/loss for the day would be $315.00. 1
point = $4.20
Crude
Oil is quoted in dollars per barrel. Example: a
price quote of 27.16 or 2716 equals 27 dollars and 16 cents
per barrel. A change of + .17 or 17 represents 17 cents, you
will also hear it quoted as 17 points. In our example, the
profit/loss for the day would be $170.00. 1 cent/point =
$10.00
Currency
Markets are quoted in US dollars per foreign
currency. Example: a price quote in the Japanese yen of 9410,
94.10 or 0.9410 equals 94 cents and 10 one-hundredths of a
cent US per Japanese yen. We are trading the exchange rate
between the US dollar the foreign currency, in other words how
much would it cost me to buy one Japanese yen. A change of -
.69, 0.0069 or 69 represents 69 points. In our example, the
profit/loss for the day would be $862.50. In the Japanese yen:
1 point = $12.50
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