CME Group — CME and CBOT: derivatives exchange in Chicago
Chicago-based CME Group includes the CME and CBOT exchanges. Chicago, United States · Global grain, soybean, livestock and dairy benchmarks.
AGR-001 · Derivatives exchange · Chicago, United States · USD
Global grain, soybean, livestock and dairy benchmarks
Chicago-based CME Group includes the CME and CBOT exchanges. They appear as one directory entry because users generally access the group through a shared product catalogue and trading infrastructure. Its agricultural business consists of futures and options linked to physical commodities. Prices are widely used as reference points for grain, soybeans, feed ingredients, livestock and dairy products. An exchange quotation can inform an international negotiation, but it is not an executable purchase offer for any shipment a farmer happens to own.
A producer may use an appropriate contract to reduce uncertainty about a future selling price, while a processor can use it when managing raw-material costs. Access normally involves a broker supporting the relevant exchange. Before opening an account, describe the commodity, quantity, expected transaction date and payment currency so that the instrument can be assessed against the commercial exposure. A grain seller outside the United States should separately consider the difference between the local cash price and the US benchmark, freight costs and exchange-rate movements.
Product selection and contract month matter. SRW and HRW wheat refer to different quality segments, while soybeans, meal and oil represent different parts of the processing chain. A price screen can show the last trade, bids, offers and a settlement price, which serve different purposes. Look at volume and open interest for the individual expiry rather than assuming that the scale of the whole exchange guarantees liquidity in every instrument. US commodity units also require product-specific conversion before comparison with a price per metric tonne.
The practical checks are margin requirements, potential cash calls, brokerage charges, expiry dates and the delivery or cash-settlement rules. Buying a futures contract does not arrange transport to a processing plant, and selling one does not replace a supply agreement with a customer. Before holding a position into delivery, establish with the broker which participants, locations and documents are eligible. Someone researching this market should begin with the product specification, calendar and data section, then compare the benchmark with an actual supplier quotation. This separates commodity-price movements from local handling charges, quality differences and commercial margins, making the information useful even when no exchange trade is planned.
What is priced: Grains, oilseeds and pulses, Livestock and meat, Milk and dairy, Timber and forest products, Vegetable oils and olive oil
Where to find the prices
Products and quotations
Corn; SRW wheat; HRW wheat; Soybeans; Soybean meal; Soybean oil; Oats; Rough rice; Live cattle; Feeder cattle; Lean hogs; Class III milk; Class IV milk; Cheese; Butter; Nonfat dry milk; Dry whey; Lumber
Key figures
- Agricultural average daily volume: 1,900,000 contracts (2025). CME Group agricultural futures and options.
- Change in agricultural ADV: 8 % (2025/2024). Year-on-year increase.
Sources
- CME Group — full year 2025
- CME — agricultural products
All agricultural exchanges, markets and price sources
