AGRICULTURE February 216 Monthly Agricultural Review A Global Trading Summary of Grain, Oilseed and Livestock Markets Highlights Futures Options How the world advances
Monthly Agricultural Review AGRICULTURAL TRADING HIGHLIGHTS February 216 Average daily volume for February 216 Grain and Oilseed futures was 1,79,276 contracts, compared with 1,13,629 during February 215, an increase of 6.48 percent. Average daily volume for February 216 Grain and Oilseed options was 163,11 contracts, compared with 193,47 during February 215, a decrease of 15.7 percent. Average daily volume for February 216 Oilseed complex futures was 478,58 contracts, compared with 477,858 during February 215, an increase of.14 percent. Average daily volume for February 216 Oilseed complex options was 77,25 contracts, compared with 98,542 during February 215, a decrease of 21.61 percent. Electronic average daily volume for February 216 Grain and Oilseed options was 16,887 contracts, compared with 112,856 during February 215, a decrease of 5.29 percent. Average daily volume for February 216 Live Cattle, Lean Hog and Feeder Cattle futures and options was 14,738 contracts, compared with 114,26 during February 215, a decrease of 8.29 percent. Electronic average daily volume for February 216 Live Cattle and Lean Hog options was 15,552 contracts, compared with 19,453 during February 215, a decrease of 2.5 percent. 1
www.cmegroup.com Scorecard - Average Daily Volume and Open Interest Statistics Ticker Symbols Electronic - Pit February 216 Average Daily Volume $ Notional ($ Millions) $ Notional ($ Millions) Spot Month Close on 29-Feb-'16 Spot Month Close in US$/MT 29-Feb-'16 2-Day Historical Volatility Corn Futures ZC C 392,924 $7,14 1,327,578 $23,697 357 $14.54 11.38% Mini Futures XC YC 365 $1 4,454 $16 Total Futures 393,289 $7,15 1,332,32 $23,713 Options OZC CY/PY 58,915 9,112 Open Interest Wheat Futures ZW W 161,237 $3,654 426,222 $9,659 453 1/4 $166.54 15.28% Mini Futures XW YW 221 $1 885 $4 Total Futures 161,458 $3,655 427,17 $9,663 Options OZW WY/WZ 25,158 282,847 KC HRW Wheat Futures KE KW 43,552 $996 213,496 $4,884 457 1/2 $168.1 14.76% Options OKE H 1,618 37,419 Soybeans Futures ZS S 26,189 $11,21 695,325 $29,934 861 $316.36 1.% Mini Futures XK YK 58 $5 5,539 $48 Total Futures 26,769 $11,26 7,864 $29,981 Options OZS CZ/PZ 62,341 652,347 Soybean Oil Futures ZL BO 115,546 $2,14 384,46 $7,113 3.87 $68.57 17.38% Options OZL OY/OZ 7,874 131,817 Soybean Meal Futures ZM SM 12,773 $2,698 393,73 $1,318 262.5 $289.36 12.72% Options OZM MY/MZ 7,34 143,677 Rough Rice Futures ZR RR 1,778 $38 12,258 $264 1.785 $237.77 26.42% Options OZR RRC/RRP 127 2,39 Oats Futures ZO O 1,277 $12 1,56 $96 182 3/4 $16.2 23.96% Options OZO OO/OV 34 2,346 Live Cattle Futures LE LC 47,81 $2,62 276,248 $15,136 136.975 16.28% Options LE CK/PK 18,148 254,949 Lean Hog Futures HE LH 32,271 $93 195,322 $5,467 69.975 21.64% Options HE CH/PH 6,58 174,933 Feeder Cattle Futures GF FC 32,271 $2,552 41,421 $3,275 158.15 2.2% Options GF KF/JF 6,58 37,763 Class III Milk Futures DC DA 1,29 $28 34,893 $953 13.66 14.36% Options DC DA 1,15 63,278 2
Monthly Agricultural Review Grain and Oilseed Combined Futures and Options - Average Daily Volume Futures Options 1,8, 1,6, 1,4, 1,2, 1,, 8, 6, 4, 2, Corn, Wheat, KC HRW Wheat Futures - Average Daily Volume 8, Corn Wheat KC HRW Wheat 7, 6, 5, 4, 3, 2, 1, 3
www.cmegroup.com Soybean Complex Futures - Average Daily Volume Soybeans Soybean Meal Soybean Oil 6, 5, 4, 3, 2, 1, Oats and Rice Futures - Average Daily Volume 8, Oats Rough Rice 7, 6, 5, 4, 3, 2, 1, 4
Monthly Agricultural Review Mini Grain and Oilseed Futures - Average Daily Volume Mini Soybeans Mini Corn Mini Wheat 6, 5, 4, 3, 2, 1, Options - Average Daily Volume Corn Soy Complex Wheat KC HRW Options 35, 3, 25, 2, 15, 1, 5, 5
www.cmegroup.com Live Cattle, Lean Hog, Feeder Cattle Futures - Average Daily Volume 16, Live Cattle Lean Hogs Feeder Cattle 14, 12, 1, 8, 6, 4, 2, Live Cattle, Lean Hog, Feeder Cattle Options - Average Daily Volume Live Cattle Lean Hogs Feeder Cattle 45, 4, 35, 3, 25, 2, 15, 1, 5, 6
Monthly Agricultural Review Corn and Wheat Electronic Options - Average Daily Volume Corn Electronic ADV Corn % Electronic ADV Wheat Electronic ADV Wheat % Electronic ADV 12, 1% 9% 1, 8% 8, 6, 7% 6% 5% 4, 4% 3% 2, 2% 1% % Soybean Complex Electronic Options - Average Daily Volume Soybean Electronic ADV Soybean Meal Electronic ADV Soybean Oil Electronic ADV Soybean Meal % Electronic ADV 8, Soybean % Electronic ADV Soybean Oil % Electronic ADV 8% 7, 7% 6, 6% 5, 4, 5% 4% 3, 3% 2, 2% 1, 1% % 7
www.cmegroup.com Live Cattle and Lean Hog Electronic Options - Average Daily Volume Live Cattle Electronic ADV Lean Hog % Electronic ADV Lean Hog Electronic ADV Live Cattle % Electronic ADV 25, 1% 9% 2, 8% 15, 7% 6% 5% 1, 4% 3% 5, 2% 1% % Electronic Drain and Oilseeds Options Spreads tercentages (1%+ marked) - Cebruary 216 Butterfly 5% Condor 1% Vertical 38% Conversion/ Reversal 18% Diagonal 3% General Spread 7% Strangle 4% Horizontal Option 6% Straddle 11% Risk reversal 3% Horizontal Straddle 3% 8
Monthly Agricultural Review 9lectronic Livestock Options Spreads tercentages (1%+ marked) - Cebruary 216 Butterfly 3% Condor 1% Conversion/ Reversal 9% Diagonal 6% General Spread 7% Vertical 49% Horizontal Option 2% Horizontal Straddle 1% Risk reversal 16% Strangle 3% Straddle 3% Corn, Wheat, KC HRW Wheat Monthly Historical Volatility - Spot Month Wheat Corn KC HRW Wheat 9% 8% 7% 6% 5% 4% 3% 2% 1% % 9
www.cmegroup.com Soybeans Complex Monthly Historical Volatility - Spot Month 7% Soybeans Soybean Meal Soybean Oil 6% 5% 4% 3% 2% 1% % Rough Rice and Oats Monthly Historical Volatility - Spot Month Rough Rice Oats 8% 7% 6% 5% 4% 3% 2% 1% % 1
Monthly Agricultural Review Live Cattle, Lean Hog, Feeder Cattle Monthly Historical Volatility - Spot Month Live Cattle Lean Hog Feeder Cattle 7% 6% 5% 4% 3% 2% 1% % Average Hourly Electronic Volumes - All Hours - February 216 25, 2, 15, 1, Lean Hog Futures Live Cattle Futures Soybean Oil Futures Soybean Meal Futures Soybean Futures Wheat Futures Corn Futures 5, Chicago Time 11
www.cmegroup.com Average Hourly Electronic Volumes - Extended Trading Hours - February 216 35, 3, Lean Hog Futures Soybean Oil Futures Soybean Futures Corn Futures Live Cattle Futures Soybean Meal Futures Wheat Futures 25, 2, 15, 1, 5, Chicago Time 9, CFTC COT Report - Corn Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 4% 8, 35% Open Interest - 7, 6, 5, 4, 3, 2, 1, 3% 25% 2% 15% 1% 5% % Source: CFTC 12
Monthly Agricultural Review CFTC COT Report - Wheat Futures Open Positions - Long 35, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 3, 5% Open Interest - 25, 2, 15, 1, 4% 3% 2% 5, 1% % Source: CFTC 1, CFTC COT Report - KC HRW Wheat Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 4% Open Interest - 9, 8, 7, 6, 5, 4, 3, 2, 1, 35% 3% 25% 2% 15% 1% 5% % Source: CFTC 13
www.cmegroup.com 4, CFTC COT Report - Soybean Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 4% 35, 35% Open Interest - 3, 25, 2, 15, 1, 3% 25% 2% 15% 1% 5, 5% % Source: CFTC 16, 14, CFTC COT Report - Soybean Meal Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 45% 4% Open Interest - 12, 1, 8, 6, 4, 2, 35% 3% 25% 2% 15% 1% 5% % Source: CFTC 14
Monthly Agricultural Review CFTC COT Report - Soybean Oil Futures Open Positions - Long 2, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 4% Open Interest - 18, 16, 14, 12, 1, 8, 6, 4, 2, 35% 3% 25% 2% 15% 1% 5% % Source: CFTC 3, CFTC COT Report - Live Cattle Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 45% Open Interest - 25, 2, 15, 1, 5, 4% 35% 3% 25% 2% 15% 1% 5% % Source: CFTC 15
www.cmegroup.com 2, 18, CFTC COT Report - Lean Hog Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 45% 4% Open Interest - 16, 14, 12, 1, 8, 6, 4, 2, 35% 3% 25% 2% 15% 1% 5% % Source: CFTC Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All references to options refer to options on futures. CME Group is a trademark of CME Group, Inc. The Globe Logo, CME, Chicago Mercantile Exchange, and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. All other trademarks are the properties of their respective owners. The information within this brochure has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications. Copyright 215 CME Group. All rights reserved. 16
Monthly Agricultural Review CME GROUP HEADQUARTERS CME GROUP GLOBAL OFFICES 2 South Wacker Drive Chicago New York London Chicago, Illinois 666 +1 312 93 1 +1 212 299 2 +44 2 3379 37 cmegroup.com Singapore Calgary Hong Kong +65 6593 5555 +1 43 444 6876 +852 318 9387 Houston São Paulo Seoul +1 713 658 9292 +55 11 2565 5999 +82 2 6336 6722 Tokyo Washington D.C. +81 3242 6232 +1 22 638 3838 Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All references to options refer to options on futures. CME Group is a trademark of CME Group, Inc. The Globe Logo, CME, Chicago Mercantile Exchange, and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. All other trademarks are the properties of their respective owners. The information within this brochure has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications. Copyright 215 CME Group. All rights reserved. AC395.9//115 17