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Resources for studying the food and fiber industries.

General Pointers

            The oldest existing futures exchange in the United States is the Chicago Board of Trade.  It was established in 1865 as a cash market in response to the need for a centralized place to bring together large numbers of buyers and sellers and to provide standards for weights and measurements as well as liquidity for the market.  Soon after its founding, brokers began dealing in ‘cash forward contracts’ in order to give buyers a reliable source of supply and sellers a year-round market.  From this, today’s futures markets evolved.  Cash forward contracts typically specified quantity, quality and delivery time.  Futures markets add price at the time the contract is made.

            The evolution of competitive market price is a major economic function of futures trading.  Available information about the future value of a particular commodity is translated into price on the trading floor.  The futures price represents the market’s best estimate of what the cash price will be at the maturity date specified on the contract.  That price is volatile and commodity exchanges typically establish a minimum amount that the price can fluctuate as well as setting a daily price limit.


Agricultural Commodities

Commodity Exchange
Barley  ICE
Beef  CME 
Butter  ICE 
Cheese  ICE 
Canola  ICE 
Cattle - Feeder  CME 
Cattle - Live  CME 
Cocoa  ICE 
Coffee  ICE 
Corn  CBOT 
Cotton   ICE 
Durum Wheat  MGEX 
Feed Peas  ICE 
Flax seed  ICE 
Hogs   CME 
Lumber  CME 
Milk  ICE 
Nonfat Dry Milk  NYMEX 
Oats  CBOT, ICE 
Orange Juice  NYMEX 
Pork Bellies  CME 
Potatoes  NYMEX 
Rough Rice  CBOT 
Soybeans  CBOT, 
Wheat  CBOT, ICE 

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