Soybean Tics

[TheDude 10]

Hi Folks,

 

Thinking of a soybean spread. I don't understand how the contracts tick though. The contract spec (http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/soybean_contract_specifications.html) says it moves in qtr tics (per cent) at $12.50 a tic - like ES I assume x.25, x.50, x.75, x.00.

 

Looking at quotes however, it seems to tic in 2 cent increments up to 6, so it trades 1.0, 1.2, 1.4, 1.6, 2.0 etc

 

Any answers/suggestions? Its getting late where I am so Im probably just tiered & missing the obvious. :doh:

 

Thanks for any help.....

 

Dude

[TheDude 10]

No one trades Ags? disgusting! Easy money!!!!

 

Why does everyone want to trade ES (ok I admit I do sometimes), EuroFX etc? The competition is much fiercer and chances of success thus much lower.

[daVinciLite 10]

This should help. Check "show specifications."

 

CBOT Soybeans (ZS, ECBOT): Daily Commodity Futures Price Chart: July 2011

 

Traded ags10 years ago. Corn was a great way to get in the game on the cheap. Know any good spread books?

 

dVL

[TheDude 10]

Thanks DV.

 

The best spreads book imo is by Courtney Smith - Futures Spread Trading. The Joe Ross book is a total waste of time.

 

Of course, if you know the basics, thats all you need, as the devil is in the fundamentals. A Welcome to Moore Research Center subscription is a MUST if into spreads, correlation studies or any sort of quantative approach. I just wish I had the time to put Howes Limit rule in to practice!!!....

[MightyMouse 12]

No one trades Ags? disgusting! Easy money!!!!

 

Why does everyone want to trade ES (ok I admit I do sometimes), EuroFX etc? The competition is much fiercer and chances of success thus much lower.

 

The moves are a lot faster in zs. tick size is exactly the same as es, zw, or 6e.

 

Whether its fiercer or not is all relative.

[tptdemon 10]

price: 13962 is 13dollars 96cents and one quarter cent

 

13964 13dollars 96cents and one half cent

 

13966 13dollars 96cents and three quarters of a cent

 

1397 13dollars 97cents

 

moving from 1396 to 1397 = 4ticks = $12.5 *4 = $50

[emg 12]

Thanks DV.

 

The best spreads book imo is by Courtney Smith - Futures Spread Trading. The Joe Ross book is a total waste of time.

 

Of course, if you know the basics, thats all you need, as the devil is in the fundamentals. A Welcome to Moore Research Center subscription is a MUST if into spreads, correlation studies or any sort of quantative approach. I just wish I had the time to put Howes Limit rule in to practice!!!....

 

moore research is good for newbies that want to learn about spread trading.

[TheDude 10]

price: 13962 is 13dollars 96cents and one quarter cent

 

13964 13dollars 96cents and one half cent

 

13966 13dollars 96cents and three quarters of a cent

 

1397 13dollars 97cents

 

moving from 1396 to 1397 = 4ticks = $12.5 *4 = $50

 

Thanks buddy. Seems odd they go 0-2-4-6 increments rather than .25, .5, .75...

 

I thought my data feed template needed adjusting or similar. Im not crazy after all!

[Trading_Time 10]

they are supposed to be in .25 .50 .75 .00 I am at OEC and they are in quarters.

 

I forget which broker it is but they quote it in .2 .4 .6 .0 and they are wrong, but when you call them and ask they say their right.. But they are the only broker to quote it like that.. its a pain in the neck really. but you still get $12.50 per a tick, so don't worry about it.

 

Thanks buddy. Seems odd they go 0-2-4-6 increments rather than .25, .5, .75...

 

I thought my data feed template needed adjusting or similar. Im not crazy after all!

[kl333 10]

Thanks buddy. Seems odd they go 0-2-4-6 increments rather than .25, .5, .75...

 

I thought my data feed template needed adjusting or similar. Im not crazy after all!

 

Soybeans and other grains are quoted in "eighths". So, 1380'2 means 1380 and 2/8, which is 1380.25. 1380'4 means 1380 and 4/8 = 1380.5 and so on.