Corn is among those grains whose price has a tendency to fluctuate due to any and every reason. And thus, it too plays a pivotal role in the futures market as being among the top traded commodities in this market. The corn futures quotes market operates in future contracts which are exchange trade agreements which are standardized and are between a buyer and seller. A fixed price is agreed upon and the delivery date is on a set date in the future.
Now the futures market is represented through corn futures quotes which are an easy analysis of the trending corn futures. There are various columns which are labeled:
Open: Represents the opening price or the price ranges from the day’s first trades, also called the Opening call.
High: Is the highest price for which a a commodity future is traded at during the day or session.
Low: Is the lowest price for the contract over the course of the trading session
Close: Is the price or range of prices which occurred in the last minute of the day before the exchange was closed
Settle: Is the closing price at the end of the trading session. It is determined from the range of closing prices because there is flurry of activity at the end of the day and there are too many closing prices, thus the need of a settlement price.
Change: Is the change between the closing price at the end of the trading session and the closing price of the previous trading session
Lifetime High/Low: Is the highest and lowest price that the contract has ever traded at from the day it came to till the present
Open Interest: Are the number of open positions. It refers to the the number of outstanding contracts for each maturity months. Not always included in the newspapers.
This is the basic guidelines of what a corn future quote should ideally represent. However, with the explosion of the internet and the digitalization of everything, future quotes have also been swamped with this wave of technology. In this day and time, any update or any latest data is directly and automatically available from the exchanges.
Everything else is the same, except a few tweaks here and there. The gist behind the corn futures quote is not changed by the ravages of time.