I was looking over CNBC.com website, looking at the quotes for the Futures , and saw that they list the PnL of the Grains in a different way, then other websites I have seen ( I have attached a screenshot ) If I am breaking it down correctly, for Soybeans for instance ..... it showed 970.75 as it's current price ( earlier this morning ) a PnL of -7.50 and a percent change 0f -0.77% So I converted 970.75 to .... 9.7075 ( moved the decimal two places to the left ) Then I converted the 7.50 to ..... .0750 ( by also moving the decimal two places to the left ) For a loss in Soybeans of -$375 Just want to make sure that I am converting this way of the price change ( -7.50 ) correctly And lastly please, using the above example ..... can 7.50 also be written as ..... 7'4 and 7 4/8 ? I only ask, because I see that certain websites write the price changes for the Grains, different from one another I have attached a screenshot, showing the PnL for the three Grains Thanks for the help , I really appreciate it
Everything you stated above is correct. Like you said, some sites show grain prices a bit different. 970.75 is the same as 9.7075 or 9.70 3/4 Each 1 cent move or 1.00 move is $50 in the futures market. A lot of charting software/execution platforms do show the change as: -7'4 which is 7.50 cents. The price changes move in quarter cent increments: 7'0 7'2 7'4 7'6 8'0
Hi EPrado , Thanks for your reply .... much appreciate it Just wanted to ask/run by one quick thing please, and that is..... to make sure that I am calculating out the correct PnL from the forementioned price changes on the Grains Wheat = -0.50 which is a loss of .005 cents ( -$25 ) ? And can also be written as 0'5 ? Soybean = -2.50 which is a loss of .025 cents ( -$125 ) ? And can also be written as 2'4 ? Corn = -0.75 which is a loss of .0075 cents ( -$375 ) ? And can also be written as 0'75 or is it just 0'75 or 0'6 ( since '6 = .75 in decimal format ) ? Again, Thank you for taking your time in helping me I really appreciate it - Michael
You're welcome. Wheat= -.50 is a loss of a half cent is or -$25. Written as -0'4 So if the market closed at 9.75 yesterday and is down a half cent today then you could write it as 9.745. Personally I haven't seen it quoted like that, but doesn't mean you can't. (Most places would quote it as 974.50 or 974'4. Soybeans= -2.50 is a loss of 2 and a half cents or $-125. Written as -2'4 Corn = -.75 is a loss of three quarters of a cent or -$37.50 (Trades in 1/4 cents. Each 1/4 cent =12.50). Written as -0'6 each 1/4 cent is '2 so: It goes '2......... '4 ............ '6 ................. 1'0 974'2................. 974'4.................. 974'6.................. 975'0
EPrado , Thank you again Great explanation I think I finally have grasped the way in which the Grains are quoted I really appreciate your help