How to read the market?
#1
How to read the market?
Commodities
US@ZCL.1 - Soybean Oil Composite CBOT
14 May 2008Last/Bid 53
Ask 52.870
Net Change +1.360
Last Close 0.000
Prev. Settlement 51.480
$ USD
Date 01 Apr 2008 13:07
High 52.840
Low 48.600
Last Close Date 01 Apr 2008
Settle Date 30 Mar 2008
Exchange USBF
All quotes delayed at least 20 minutesMarket Update
Here is the current market for soy oil. This might be quite stupid but how do you read this? When it says ask52.870 is that for pounds or gallons? This something new to me , to watch the market and especially soy since it will reflect our price of biodiesel.
US@ZCL.1 - Soybean Oil Composite CBOT
14 May 2008Last/Bid 53
Ask 52.870
Net Change +1.360
Last Close 0.000
Prev. Settlement 51.480
$ USD
Date 01 Apr 2008 13:07
High 52.840
Low 48.600
Last Close Date 01 Apr 2008
Settle Date 30 Mar 2008
Exchange USBF
All quotes delayed at least 20 minutesMarket Update
Here is the current market for soy oil. This might be quite stupid but how do you read this? When it says ask52.870 is that for pounds or gallons? This something new to me , to watch the market and especially soy since it will reflect our price of biodiesel.
#4
#5
walrus,
Thanks. That makes sense to me. I got a e-mail from my supplier telling me that bio price is going up because of the market price of soy oil. He is now using 20% recycled oil to off set the price of soy oil. The one thing I have never learned how to do was understand what all the # mean when reading the stock.
Thanks. That makes sense to me. I got a e-mail from my supplier telling me that bio price is going up because of the market price of soy oil. He is now using 20% recycled oil to off set the price of soy oil. The one thing I have never learned how to do was understand what all the # mean when reading the stock.
#6
Here you go tazo,
I went straight to the 'horses mouth'. I actually do business with a commodity trading company, although they don't do much sbo, and I asked a merchandiser.
"Oil trades in cents per lb…… and the contracts are in 100 lb lots….. so .5287lb or 52.87 per 100lb cont
The bid number is normally lower than the ask…but because it’s composite it might skew the numbers a little...basically what somebody will buy and/or sell it at right now."
I only asked about the first few lines. The high and low values are just that, and the Previous Settlement is what it closed at yesterday.
I went straight to the 'horses mouth'. I actually do business with a commodity trading company, although they don't do much sbo, and I asked a merchandiser.
"Oil trades in cents per lb…… and the contracts are in 100 lb lots….. so .5287lb or 52.87 per 100lb cont
The bid number is normally lower than the ask…but because it’s composite it might skew the numbers a little...basically what somebody will buy and/or sell it at right now."
I only asked about the first few lines. The high and low values are just that, and the Previous Settlement is what it closed at yesterday.
#7
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