Futures

A futures contract is a commitment to make or take delivery of a specific quantity and quality of a given commodity at a specific delivery location and time in the future. All terms of the contract are standardized except for the price, which is discovered via the supply (offers) and the demand (bids). This price discovery process occurs through an exchange’s electronic trading system or by open auction on the trading floor of a regulated commodity exchange.

A futures contract is a commitment to make or take delivery of a specific quantity and quality of a given commodity at a specific delivery location and time in the future. All terms of the contract are standardized except for the price, which is discovered via the supply (offers) and the demand (bids). This price discovery process occurs through an exchange’s electronic trading system or by open auction on the trading floor of a regulated commodity exchange.

CBOT Corn, Wheat, Soya, Soya Oil, Soya meal

All contracts are ultimately settled either through liquidation by an offsetting transaction (a purchase after an initial sale or a sale after an initial purchase) or by delivery of the actual physical commodity.

An offsetting transaction is the more frequently used method to settle a futures contract. Delivery usually occurs in less than 2 percent of all agricultural contracts traded.

Exchange Functions

Feed Barley ASX Australia; Feed Barley Budapest, Hungary; ICE Canada Western Barley; Barley world wide (general info) are futures contracts for barley.

Feed Barley ASX Australia
Contract Unit: 20 Metric Tonnes
Quotation/Tick Size: Aud $0.10 Per Tonne, Tick Value $2.00 Per Contract
Contract Months: Jan, Mar, May, Jul, Sep, Nov.
Last Trading Day And The Third Thursday Of The Maturity Month,
Maturity Date: Provided This Is A Trading Day.
Trading Hours: 9.50am To 4.30pm (Sydney Time). Late Trading 4.30pm To 5.00pm. Trading Ceases At 12 Noon On Maturity Date.
Settlement Method: Physical Delivery
Settlement Day: The Business Day Following The Notice Day.
Deliverable Grade: Australian Barley As Per Nacma Feed Barley Specifications Or Better, Of Victorian Origin, Transferred On A Grower Receival Stack Average Basis.

Corn - CBOT, Chicago, USA 
Contract Details, Trading Hours for the CBOT Corn Future.
CONTRACT SIZE: 5000 bushels
CONTRACT MONTHS: Mar, May, Jul, Sep, Dec.
PRICE QUOTE: Cents and quarter-cents/bu.
TICK SIZE: 1/4 Cents per bushel  ($12.50 contract)
ta corn
DAILY PRICE LIMIT: $0.30 per bushel expandable to $0.45 and then to $0.70 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.

NYSE Liffe London. Feed Wheat Futures; Feed Wheat - Asx, Australia; Feed Wheat - Bud, Hungary

NYSE Liffe London. Feed Wheat Futures

Unit of trading: GBP One hundred tonnes
Origins tenderable: EU
Quality:
Natural weight: min 72.5 kg per hectolitre.
Moisture content: max 15%.
Sprouted wheat: max 8%.
Heat damage: max 3%.
Admixture: max 2%
  (seeds and/or total admixture of farinaceous grain   including wild oats)
   Out of which
    - dirt of which the dirt content max 1%;
    - ergot or garlic not to exceed 0.001%; and
All the above tests to be applied on weight basis.
Sound and sweet and in good condition.

Canola - Winnipeg, Canada
Rapeseed - MATIFF, Paris

ta rseeds

Conditions: FOB/mt
Unit of trading: Fifty tonnes
Origins tenderable: Any origin
Quality: Double zero variety, of sound, fair and merchantable quality of the following standards:

Oil content: basis 40% +/- 1.5% for each 1%
Moisture: max 9% +/- 1% for each 1%
Impurities: basis 2% max 3% +/- 1% for each 1%

Oleic acidity: max 2%

Erucic acid content: max 2%
Glucosinolates content: max 25 micromoles

Premiums and discounts apply and correspond to the difference between the delivered and standard quality.

Soybean Futures - CBOT, Chicago, USA
Contract Size 5,000 bushels (~136 metric tons)  /2.7216=USD/MT
ta soya
Deliverable Grade #2 Yellow at contract price, #1 Yellow at a 6 cent/bushel premium, #3 Yellow at a 6 cent/bushel discount

Pricing Unit Cents per bushel
Tick Size (minimum fluctuation) 1/4 of one cent per bushel ($12.50 per contract)

LIFFE, London, FOB USD/mt

Unit of trading: Fifty tonnes

Quality: White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with:
- polarisation minimum 99.8 degrees,
- moisture maximum 0.06% and
- colour of a maximum 45 units ICUMSA attenuation index,
 all at time of delivery to vessel at the port.

Delivery months: March, May, August, October, December, such that eight delivery months are available for trading.

CBOT Chicago Wheat, Black Sea Wheat Futures;
Milling Wheat - Asx, Australia;
Euro Wheat - Budapest, Hungary;
Futures MATIFF, Paris, France - milling wheat;
Please check when article updated in order to view chart. 
CBOT Chicago Wheat Futures
ta wheat
Size: 5,000 bushels (~ 136 Metric Tons) xx/2.7216=usd/mt

Deliverable Grade: #2 Soft Red Winter at contract price, #1 Soft Red Winter at a 3 cent premium, other deliverable grades listed in Rule 14104.

Pricing Unit Cents per bushel
Tick Size (minimum fluctuation) 1/4 of one cent per bushel ($12.50 per contract)
Contract Months/Symbols March (H), May (K), July (N), September (U) & December (Z)

Trading Hours CME Globex (Electronic Platform) 6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday - Friday