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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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