University of Missouri Extension

G604, Reviewed August 2011

Commodity Futures Terminology

Joe Parcell
Department of Agricultural and Applied Economics
Jason Franken
Former Postdoctoral Researcher
Department of Agricultural and Applied Economics

This guide provides basic definitions of commodity futures terminology. Although the terminology of trading agricultural commodities goes far beyond the scope of this guide, this information can be used to build a knowledge base from which a broader understanding of the futures market can be developed.

This glossary was adapted from the Commodity Trading Manual, published by the Chicago Board of Trade, Chicago, Ill., 1997.
Original authors
Joe Parcell and Vern Pierce, formerly of the Department of Agricultural Economics
G604 Commodity Futures Terminology | University of Missouri Extension

Order publications online at or call toll-free 800-292-0969.

University of Missouri Extension - print indicia