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Help on Soybean Oil (BO)
Soybean Oil futures are traded on the Chicago Board of Trade.
The price of Soybean Oil is quoted in cents per pound. The standard
contract size is 60,000 pound. The minimum trading increment is
0.01 cent
Soybean Oil prices are read as follows:
A price of 24.52 would be read as 24.52 cents per pound.
A move from 24.52 to 25.52 would be a difference of $600.00 excluding
commissions and fees. The minimum change is 0.01 or $6.00
Formula: $0.2542 - $0.2452 = $0.0100 * 60,000 = $600.00
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