A Quote is the existing price of a commodity on a particular Commodity Exchange.
Commodity quotes can be accessed from several websites throughout the day. Moreover, television channels also scroll certain commodity quotes. While trading in commodities markets it is important to determine when a particular quote was generated as it affects investment decisions.
Commodity quotes prices for futures and options are usually displayed by an Commoditite Exchange.
For instance, a future price quote for a grains futures contract will contain the following information in its columns:
Contract exhibits the month and year of the grains futures contract for which the price quote is mentioned. For example, Jan-96 stands for the futures contract expected to terminate in January 1996.
Open denotes the opening futures price for that day.
High indicates the highest price for the recent trading session.
Low represents the lowest price for the recent trading session.
Last represents the latest bid of the day.
Volume represents the number of short or long contracts bought and sold during the trading session. For example, a volume of 530 implies that 530 short positions and 530 long positions have been effected.
Settle price means the most recent bid price for the just completed trading day.
An options Commodites quotes price for a grains futures contract will contain the following information in its columns:
Strike indicates the price for which the call or put option contract is at present being bought or sold.
Open represents the opening options price for that day.
High stands for the highest bid for that day.
Low indicates the lowest bid for that day.
Last refers to the final bid of that day.
Change denotes the difference in bid value from the close of the preceding day.
Volume refers to the number of put or call contracts bought or sold during the trading day.
Commodities price quote for the commodities grain market comprising oats, wheat, corn, and soybeans is in cents/bushel. For instance, a price quote for corn of 2092 or 209 ¼ comes to $ 2 and 9 ¼c per bushel for a 5000-bushel contract.
Commodities price quote for Soy Meal is in dollars/ton. For instance, a price quote of 144.50 or 1445 comes to $144 and 50c per ton for a100-ton contract.
Commodities price quote for Bean Oil is in dollars/100 pounds. For instance, a price quote of 13.57 or 1357 comes to $13 and 57c per 100 pounds.
Commodities price quotes for the Meat Markets are in cents/pound. For instance, a price quote for cattle of 65.20 or 6520 comes 65c and 20 one hundredths of a cent/pound for a 50,000 pound contract.
Commodities price quotes for Softs comprising sugar, coffee, orange juice, and cotton are in cents/pound. For instance, a price quote for cotton of 36.89 or 3689 comes to 36c and 89 one hundredths of a cent/pound of a 50,000 pound contract.
Commodities price quote for Cocoa is in dollars/ton. For instance, a price quote of 945 comes to $945.00 per ton for a10 metric ton contract.
Commodities price quotes for Metals are in dollars/ounce for platinum, gold, and palladium. For instance, a price quote for Gold of 387.90 or 3879 indicates $ 387 and 90c per ounce.
Commodities price quote for Silver is in cents/ounce. For instance, a price quote of 745.50 or 7455 comes to 745 cents and 5 tenths of a cent per ounce.
Commodities price quote for Copper is in cents/pound. For instance, a price quote of 74.65 or 7465 comes to 74 cents and 65 one hundredths of a cent/pound.
Commodities price quote for Energies is in cents/gallon for unleaded gasoline and heating oil. For instance, a price quote for unleaded gasoline of 84.10 or 8410 comes to 84 cents and 10 one hundredths of a cent/gallon.
Commodities price quote for Crude Oil is in dollars/barrel. For instance, a price quote of 37.16 or 3716 comes to 37 dollars and 16 cents/barrel.
Commodities price quote for Currencies are in U.S. $/foreign currency. For instance, a price quote for the Japanese yen of 8410, 84.10 or 0.8410 comes to 84 cents and 10 one-hundredths of a cent U.S. /Japanese yen.
Normally, Exchanges cover quotes from every trading session. Every commodity exchange charges a fixed rate per person to view their data in real-time. Most exchanges can only show data on a deferred basis. Commodities exchange data is generally delayed by 10 to 30 minutes, depending on the concerned exchange.