Category
Agricultural
Exchange
CBOT (CME Group)
Contract Size
5,000 bushels of soybeans
Symbol
ZS
CBOT Soybean futures (ZS) are a staple of the agricultural commodities market. Soybeans are processed into meal (animal feed), oil (cooking and biodiesel), and are heavily traded between the US, Brazil, Argentina, and China. The soybean complex (beans, meal, oil) offers numerous spread-trading opportunities.
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Sun 19:00 – Fri 14:20 CT. Day session 08:30–13:20 CT.
Day trading margins ~$500–$1,200. Exchange maintenance margin ~$2,000–$2,500.
ICE Cocoa futures track the price of cocoa beans, the key ingredient in chocolate. West Africa (Ivory Coast, Ghana) produces over 60% of the world's cocoa. Supply disruptions from weather, disease, or political instability in these regions can drive significant price volatility. Cocoa prices reached record highs in 2024.
ICE Arabica Coffee futures (KC) are the global benchmark for specialty coffee pricing. Brazil, the world's largest producer, drives supply dynamics. Climate events (frost, drought) in Brazil can cause extreme price spikes. Coffee is one of the most volatile soft commodities. A 1 cent move = $375 per contract.
CBOT Wheat futures (ZW) track the price of soft red winter wheat, a major food staple. Wheat prices are sensitive to weather, geopolitical events (Black Sea region supply), and USDA inventory reports. Three types of wheat futures exist: SRW (CBOT), HRW (KC), and spring wheat (MGEX).
CBOT Corn futures (ZC) are a benchmark for the global grain market. Corn is the world's most widely produced cereal grain with uses spanning food, animal feed, and ethanol production. Prices are driven by planting reports, weather patterns, USDA crop reports, and ethanol mandate policies.