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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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