- What does the quotequoted price of each traded-commodityof the below commodities represent ? (Goldeg: Gold price below = 1 t ounce ; cooper: 1 ton = ...1 ton ?)
- How can I convert the listed prices to calculateshow the price of 1 Kilogram of each traded-commodity? I googled the contract ammount for each commodity but I'm not sure if I took the right info
I googled the contract amount for each commodity but I'm not sure if I took the right info, because it doesn't seem to make sense.
For example, the below shows wheat at $707, and it seems the contract volume is for 5000 bushels (27.2 kg for 1 bushel) 1, implying a price / kg = 0$0.00519 $, but I buy 1 kilogram wheat from local supermarket for one dollar. Why are these numbers so different?
Similarly corn at $670 for 5000 bushels (25.4 kg for 1 bushel) 1 kg = 0$0.005275 $
, also seems very cheap, or soybean oil $66 for 60000 pounds (2721.5 kg) 1 kg = 0$0.0242 $
, or cocoa $2481 for 10 metric tonnes (1 kg = 0$0.2481 $)
sugar $0.17 for 112000 pound (there is something illogical)
gold $1842 for 1 t ounce (1 kg = 592220.3 $) silver $27 for for 1 ounce (1 kg = 868.05$) platinum $1223 for 5 t ounces (1 kg = 7863.89 $) palladium $2890 for 10 t ounces (1 kg = 9291.35 $) cooper $4.68 for 1 ton ( 1 kg = 0.00468 $) aluminuim $2428 for 1 ton (1 kg = 2.428 $) nickel $17590 for 1 ton (1 kg = 17.59 $)
feeder cattle $150 for 50000 pounds (1 kg = 0.0066 $) live cattle $116 for 40000 pounds ( 1 kg = 0.00639 $) lean hog $110 for 40000 pounds ( 1 kg = 0.006 $) coffee
random length lumber $1540 for 1 ton ( 1 kg = 1.54 $)
oats $327 for 5000 bushels (14.5 kg for 1 bushel) 1 kg = 0.00451 $
cotton $0.82 for 50000 pound (22679.619kg) 1 kg = 0.0000361 $
