Markets & Reference Library

Understand the Markets Connected to Commercial Exposure

Benchmark exchange contracts, commercial liquidity pools, volatility drivers, tick specifications, and localized basis dynamics.

Agricultural Markets

Corn, Soybeans, Wheat, Canola, Oats, Rice, Cotton, Softs

CBOT (Chicago Board of Trade) • ZC$4.48 (+0.03)

Corn Futures & Options

The world benchmark contract for global feed grain, ethanol feedstock, and agricultural risk.

Contract Unit: 5,000 bushels (~127 metric tons)

Tick Value: $12.50 per 1/4 cent/bushel

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CBOT • ZS$11.82 (-0.08)

Soybean Futures & Options

Global oilseed benchmark driving protein meal and vegetable oil markets worldwide.

Contract Unit: 5,000 bushels (~136 metric tons)

Tick Value: $12.50 per 1/4 cent/bushel

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CBOT / KCBT • ZW / KE$5.74 (+0.05)

Wheat (SRW / HRW) Futures

The foundational food staple commodity for commercial flour mills, bakeries, and global trade.

Contract Unit: 5,000 bushels

Tick Value: $12.50 per 1/4 cent/bushel

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Energy & Refined Fuels

WTI Crude, ULSD Diesel, Natural Gas, Propane, Electricity

NYMEX • CL$78.40 (+1.15)

WTI Crude Oil Futures

The primary global pricing benchmark for petroleum energy, fuel, and chemical feedstocks.

Contract Unit: 1,000 U.S. barrels (42,000 gallons)

Tick Value: $10.00 per $0.01/barrel

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NYMEX • HO$2.42 (+0.04)

ULSD Diesel / Heating Oil

The essential fuel contract for commercial transportation, logistics, agriculture, and heating.

Contract Unit: 42,000 gallons (1,000 barrels)

Tick Value: $4.20 per $0.0001/gallon

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NYMEX • NG$2.85 (-0.06)

Natural Gas Futures

Key fuel contract for electric power generation, industrial heat, fertilizer, and chemical manufacturing.

Contract Unit: 10,000 MMBtu (Million British Thermal Units)

Tick Value: $10.00 per $0.001/MMBtu

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Base & Precious Metals

Copper, Aluminum, Steel Inputs, Gold, Silver, Scrap Metal

COMEX • HG$4.35 (+0.06)

Copper Futures

The leading industrial metal benchmark for construction, electronics, power grids, and EV manufacturing.

Contract Unit: 25,000 pounds (~11.3 metric tons)

Tick Value: $12.50 per $0.0005/pound

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COMEX / LME • ALI$2,480 (+18.50)

Aluminum Futures

Essential lightweight metal contract for beverage packaging, automotive, aerospace, and building products.

Contract Unit: 25 metric tons (55,116 lbs)

Tick Value: $12.50 per $0.50/metric ton

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Foreign Exchange & Rates

USD, EUR, MXN, CAD, Short-Term Borrowing Rates & Freight

CME / OTC Currency Markets • FX1.0850 (EUR/USD) (+0.0020)

FX Risk (USD, EUR, MXN, CAD)

Currency risk management for international trade, imported raw materials, and cross-border revenues.

Contract Unit: 125,000 EUR / 500,000 MXN

Tick Value: $6.25 per tick

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Commodity Market Mechanics FAQs

What is physical basis risk in commodity markets?

Physical basis is the difference between your local physical cash price and the benchmark exchange futures settlement price. Basis reflects localized supply/demand, freight differentials, and regional elevator or terminal margins.

How are exchange contract tick values calculated?

Each commodity futures contract has a defined minimum price movement (tick size) and corresponding dollar value per contract. For instance, a 1-cent price move in CME Corn (5,000 bushels) equals $50.00 per contract.

Basis & Liquidity Diagnostics

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