Agricultural Options Product Suite

April 2024 highlights

Agricultural options are up 9% ADV in April 2024 with average open interest over 3.5M contracts:

  • Grain and Oilseeds: 279K ADV +1%
  • Livestock: 47K ADV +81%
  • Dairy: 2.3K ADV +48%
  • Lumber: 62 ADV +823%
Option Products APRIL ADV ADV YoY % Change CVOL Low CVOL High CVOL Range
Corn 94,383 -20% 21.05 24.06 3.01
Soybean 75,646 3% 15.21 19.20 3.99
Chicago SRW Wheat 33,427 29% 30.48 39.38 8.90
Live Cattle 27,174 94% 15.06 19.68 4.62
Soybean Meal 20,063 20% 20.05 26.88 6.83
Hogs 18,379 70% 21.38 26.42 5.04
Soybean Oil 15,072 34% 27.77 32.61 4.84
KC HRW Wheat 13,591 216%      
Feeder Cattle 4,087 57% 14.38 20.28 5.90
Class III Milk 1,611 77% 18.70 25.04 6.34

Source: CME Group


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Short-Term option ADV

  Weekly Options Short-Dated New Crop Options New Crop Weekly Options
  April ADV April ADV April ADV
Corn 6,587 6,359 122
Soybean 3,580 3,110 19
Chicago SRW Wheat 2,394 5  
Soybean Meal 444    
Soybean Oil 262    

Source: CME Group


Live Cattle options

Continued avian flu uncertainty and deviation from seasonal market fundamental patterns has increased daily volatility in Live Cattle futures, leading to a record-setting month for the product, trading 27,174 contracts on average throughout April. 


KC Wheat

KC Wheat set an all-time ADV record in April (13,591) given changing weather conditions challenging the outlook of this year’s production. 


Lumber options

Lumber options are gaining traction (61 ADV +823%) as the revamped futures contract picks up steam, surpassing 10K contract of open interest.



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