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 Commodity Futures Contract Specifications
Each commodity is different. There are even different delivery months of the same commodity. Understanding the futures contract specifications is at the heart of knowing the rules that govern trading a commodity futures contract, as well as the price movement value of each commodity.
GRAINS & LEGUMES
METALS
FINANCIAL
LIVESTOCK
ENERGIES (OILS)
INDICES
EXOTICS (SOFTS)
CURRENCIES
MINI CONTRACTS
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DELIVERY MONTHS
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
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Regular Trading Hours | F | G | H | J | K | M | N | Q | U | V | X | Z |
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GRAINS & LEGUMES
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Corn+ |
CBOT | 9:30-13:15 | 5K bu. c/bu. | H,K,N,U,Z | C | 1/4C ($12.50) | 1 cent=$50 |
Oats+ | CBOT | 9:30-13:15 | 5K bu. c/bu. | H,K,N,U,Z | O | 1/4C ($12.50) | 1 cent=$50 |
Rough Rice+ | CBOT | 9:15-13:30 | 2K klbs. $/klb | F,H,K,N,U,V,Z | R | .005klb ($12.50) | 1 cent=$20 |
Soybean+ | CBOT | 9:30-13:15 | 5K bu. c/bu. | F,H,K,N,Q,U,X | S | 1/4C ($12.50) | 1 cent=$50 |
Soybean Meal+ | CBOT | 9:30-13:15 | 100tns $/tn | F,H,K,N,Q,U,V,Z | SM | .10/tn ($10) | 1 pt=$1 |
Soybean Oil+ | CBOT | 9:30-13:15 | 60K lbs. c/lb. | F,H,K,N,Q,U,V,Z | BO | 0.1/lb. ($6) | 1 pt=$6 |
Wheat+ | CBOT & KCBT | 9:30-13:15 | 5K bu. c/bu. | H,K,N,U,Z | W/KW | 1/4C ($12.50) | 1 cent=$50 |
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LIVESTOCK
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Feeder Cattle | CME | 10:05-14:00 | 50K lbs. c/lb. | F,H,J,Q,U,V,X | FC | 2.5 points ($12.50) | 1 pt=$5 |
Lean Hogs | CME | 10:10-14:00 | 40K lbs. c/lb. | G,J,M,Q,V,Z | LH | 2.5 points ($10) | 1 pt=$4 |
Live Cattle | CME | 10:05-14:00 | 40K lbs. c/lb. | G,J,M,Q,V,Z | LC | 2.5 points ($10) | 1 pt=$4 |
Pork Bellies | CME | 10:10-14:00 | 40K lbs. c/lb. | G,H,K,N,Q | PB | 2.5 points ($10) | 1 pt=$4 |
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EXOTICS (SOFTS)
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Cocoa | NYBOT | 8:30-13:30 | 10mtns. $/mtn. | H,K,N,U,Z | CC | $1/ton | 1 pt=$10 |
Coffee | NYBOT | 9:15-13:35 | 37.5k lbs. $/lb. | H,K,N,U,Z | KC | .0005 ($18.25) | 1 pt=$3.75 |
Cotton | NYBOT | 10:30-14:40 | 50K lbs. c/lb. | H,K,N,V,Z | CT | .001 ($5) | 1 pt=$5 |
Lumber | CME | 10:00-14:05 | 80k bdft. $/bdft. | F,H,K,N,U,X | LB | .10/1K ($8) | 1 pt=$0.80 |
Orange Juice | NYBOT | 10:15-14:15 | 15K lbs. c/lb. | F,H,K,N,U,X | OJ | .0005 ($7.50) | 1 pt=$1.50 |
Sugar | NYBOT | 9:30-13:20 | 112K lbs. c/lb. | H,K,N,V | SB | .0001 ($11.20) | 1 pt=$11.20 |
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METALS
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Copper+ | COMEX | 8:10-14:00 | 25K lbs. $/lb. | F,H,K,N,U,V,Z | HG | .0005 ($12.50) | 1 pt=$2.50 |
Gold+ | COMEX | 8:20-14:30 | 100 oz. $/oz. | G,J,M,Q,V,Z | GC | .10/oz. ($10) | 1 pt=$1 |
Kilo Gold | CBOT | 8:20-14:30 | 32.15 oz. $/oz. | G,J,M,Q,V,Z | KI | .10/oz. ($3.215) | $1=$32.15 |
Palladium+ | NYMEX | 8:10-14:20 | 100 oz. $/oz. | H,M,U,Z | PA | .05/oz. ($5) | 1 pt=$1 |
Platinum+ | NYMEX | 8:20-14:30 | 50 oz. $/oz. | F,J,N,V | PL | .10/oz. ($5) | 1 pt=$0.50 |
Silver+ | COMEX | 8:25-14:25 | 5K oz. c/oz. | F,H,K,N,U,Z | SI | .005/oz. ($25) | 1 cent=$50 |
Little Silver | CBOT | 8:25-14:25 | 1K oz. c/oz. | G,J,M,Q,V,Z | AG | .005/oz. ($5) | 1 cent=$10 |
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OILS (ENERGIES)
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Crude Oil+ | NYMEX | 9:45-15:10 | 1K bbl. $/bbl. | ALL MONTHS | CL | .01/bbl. ($10) | 1 pt=$10 |
Heating Oil+ | NYMEX | 9:50-15:10 | 42K gal. $/gal. | ALL MONTHS | HO | .0001 ($4.20) | 1 pt=$4.20 |
Natural Gas+ | NYMEX | 10:00-15:10 | 10K mm/btu | ALL MONTHS | NG | .10 ($10) | 1 pt=$10 |
Unleaded Gas+ | NYMEX | 9:50-15:10 | 42K gal. $/gal. | ALL MONTHS | HU | .0001 ($4.20) | 1 pt=$4.20 |
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CURRIENCIES
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Australian Dollar+ | CME | 8:20-15:00 | 100K AD | H,M,U,Z | AD | .0001 ($10) | 1 pt=$10 |
British Pound+ | CME | 8:20-15:00 | 62.5K BP | H,M,U,Z | BP | .0002 ($12.50) | 1 pt=$6.25 |
Canadian Dollar+ | CME | 8:20-15:00 | 100K CD | H,M,U,Z | CD | .0001 ($10) | 1 pt=$10 |
Euro-Currency+ | CME | 8:20-15:00 | 125K Euros | H,M,U,Z | EC | .0001 ($12.50) | 1 pt=$12.50 |
Japanese Yen+ | CME | 8:20-15:00 | 12.5mil YEN | H,M,U,Z | JY | .000001 ($12.50) | 1 pt=$12.50 |
Mexican Peso+ | CME | 8:20-15:00 | 500K MP | H,M,U,Z | ME | .00001 ($5) | 1 pt=$5 |
Swiss Franc+ | CME | 8:20-15:00 | 125K SF | H,M,U,Z | SF | .0001 ($12.50) | 1 pt=$12.50 |
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FINANCIAL
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Eurocanada+ | CME | 8:20-15:00 | CD$1 mil. | H,M,U,Z | KJ | .01 (CD$25) | 1 pt=CD$25 |
Eurodollars+ | CME | 8:20-15:00 | $1mil. E$ | H,M,U,Z | ED | .005 ($12.50) | 1 pt=$25 |
Euroyen | CME | 8:20-15:00 | ?100mil. YEN | H,M,U,Z | EY | .01 (?2,500) | 1 pt=?2,500 |
Libor+ | CME | 8:20-15:00 | $3 mil. | ALL MONTHS | EM | .005 ($12.50) | 1 pt=$25 |
30 Day Interest Rate | CBOT | 8:20-15:00 | $5 mil. | ALL MONTHS | FF | .005 ($20.835) | 1 pt=$41.67 |
T-Bonds 30 yrs+ | CBOT | 8:20-15:00 | $100K BOND | H,M,U,Z | US/CFB | 1/32 ($31.25) | 1/32=$31.25 |
T-Notes 10 yrs+ | CBOT | 8:20-15:00 | $100K NOTE | H,M,U,Z | TY/CFT | 1/64 ($15.625) | 1/64=$15.625 |
T-Notes 5 yrs+ | CBOT | 8:20-15:00 | $100K NOTE | H,M,U,Z | FV/CFF | 1/64 ($15.625) | 1/64=$15.625 |
T-Notes 2 yrs+ | CBOT | 8:20-15:00 | $200K NOTE | H,M,U,Z | TU/CFA | 1/128 ($15.625) | 1/128=$15.625 |
T-Bills+ | CME | 8:20-15:00 | $1mil. BILL | H,M,U,Z | TB | .01 ($25) | 1 pt=$25 |
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INDEXES
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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CRB Index | NYBOT | 9:10-16:15 | $500 X Index val. | F,G,U,X | CR | .05 pt ($25) | 1pt=$5 |
Dow Jones Index+ | CBOT | 9:00-16:15 | $10 X Index val. | H,M,U,Z | DJ | .01 pt ($10) | 1pt=$10 |
E-Mini S & P++ | CME | 28:45-28:15 | $50 X Index val. | H,M,U,Z | ES | .05 pt ($2.50) | 1pt=$0.5 |
E-Mini Nasdaq 100++ | CME | 28:45-28:15 | $20 X Index val. | H,M,U,Z | EN | .50 pt ($10.00) | 1pt=$0.2 |
Muni Bond Index | CBOT | 8:20-15:00 | $1000 X Ind val. | H,M,U,Z | MB | 1/32 ($31.25) | 1/32=$31.25 |
NASDAQ 100+ | CME | 9:30-16:15 | $100 X Index val. | H,M,U,Z | ND | .05 pt ($5) | 1pt=$5 |
NIKKEI 225 | CME | 9:00-16:15 | $5 X AVE. | H,M,U,Z | NK | 5 pts ($25) | 1pt=$5 |
NYSE Index | NYBOT | 9:30-16:15 | $500 X Index val. | H,M,U,Z | YX | .05 pt ($25) | 1pt=$5 |
S & P 500+ | CME | 9:30-16:15 | $250 X Index val. | H,M,U,Z | SP | .10 pt ($25) | 1pt=$2.50 |
US Dollar Index+ | NYBOT | 8:20-15:00/8 | $1000 X Ind val. | H,M,U,Z | DX | .01 pt($10) | 1pt=$10 |
Value Line Index | KCBT | 9:30-16:15 | $250 X Index val. | H,M,U,Z | KV | .05 pt ($25) | 1pt=$5 |
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MINI CONTRACT SPECIFICATIONS
| COMMODITY | EXCHANGE | TRADING HOURS | CONTRACT SIZE | DELIVERY MONTHS | SYM | MINIMUM FLUCTUATION | POINT VALUE |
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Corn | MIDAM | 10:30-14:45 | 1K bu. c/bu. | H,K,N,U,Z | XC | 1/4c/bu ($2.50) | 1 cent=$10 |
Oats | MIDAM | 10:30-14:45 | 1K bu. c/bu. | H,K,N,U,Z | XO | 1/4c/bu ($2.50) | 1 cent=$10 |
Soybean Meal | MIDAM | 10:30-14:45 | 50 tons | F,H,K,N,Q,U,V,Z | XE | .10/ton ($2) | 1 pt=$0.50 |
Soybeans | MIDAM | 10:30-14:45 | 1K bu. c/bu. | F,H,K,N,Q,U,X | XS | 1/4c/bu ($2.50) | 1 cent=$10 |
Wheat | MIDAM | 10:30-14:45 | 1K bu. c/bu. | H,K,N,U,Z | XW | 1/4c/bu ($2.50) | 1 cent=$10 |
Live Cattle | MIDAM | 9:45-14:15 | 20K lbs. c/lb. | G,J,M,Q,V,Z | XL | .00025 ($5) | 1 pt=$2 |
Revised Hogs | MIDAM | 9:45-14:15 | 20K lbs. c/lb. | G,J,M,N,Q,V,Z | XH | .00025 ($5) | 1 pt=$2 |
Eurodollars | MIDAM | 8:20-15:00 | $500K E$ | H,M,U,Z | UD | .005 ($6.25) | 1 pt=$12.50 |
T-Bills | MIDAM | 8:20-15:00 | $500K BILL | H,M,U,Z | XT | .01 ($12.50) | 1 pt=$12.50 |
British Pound | MIDAM | 8:20-15:00 | 12.5K BP | H,M,U,Z | XP | .0002 ($2.50) | 1 pt=$1.50 |
Canadian Dollar | MIDAM | 8:20-15:00 | 50K CD | H,M,U,Z | XD | .0001 ($5) | 1 pt=$5 |
Deutsche Mark | MIDAM | 8:20-15:00 | 62.5K DM | H,M,U,Z | XM | .0001 ($6.25) | 1 pt=$6.25 |
Japanese Yen | MIDAM | 8:20-15:00 | 6.25mil YEN | H,M,U,Z | XJ | .000001 ($6.25) | 1 pt=$6.25 |
Swiss Franc | MIDAM | 8:20-15:00 | 62.5K SF | H,M,U,Z | XF | .0001 ($6.25) | 1 pt=$6.25 |
Platinum | MIDAM | 8:20-14:30 | 25 oz. $/oz. | F,J,N,V | XU | .10/oz. ($2.50) | 1 pt=$0.25 |
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