As markets continue to react to tariff news and other uncertainty, one thing is clear: the need for liquid hedging solutions is increasing across commodity markets. Traders are increasingly turning to futures and options contracts to insulate their portfolios from risk.

Energy resources from Canada will potentially be subject to a 10% tariff, compared to the 25% implemented on all other imports from Canada and Mexico. In response to volatility, energy traders are increasingly turning to WTI Crude Oil futures, fueling continued market growth. Average daily open interest in WTI Crude Oil futures is up 6% from 2024, while ADV is up 23% from 2024.

On February 10, President Trump announced new tariffs on all steel and aluminum imports to the United States. As global metal traders managed global trade uncertainty, average daily trading volume in options across metals increased by 25% in February 2025 compared to January.

Tariffs are also impacting agricultural markets, with China, Mexico and Canada representing the top markets for American farm products. Weekly Agricultural options enable traders to express precise views and fine-tune strategies around critical events. The geopolitical environment is quickly changing, creating opportunities to explore the flexibility and risk management capabilities of short-term options.

It’s official: Henry Hub Natural Gas Weekly options are available every day of the trading week. Whether the weather is fine or whether the weather is not, the changing weather may have driven the 12.3% increase in average daily open interest from 2024 to 2025. The 21.9% ADV increase in Friday Henry Hub Natural Gas Weekly options from 2024 to 2025 has inspired the addition of Monday through Thursday expirations of the contract. This makes us home to the most liquid Weekly and monthly Natural Gas options on the market.

Between new, physically settled Ethanol (EL) futures and (OEL) options and Gulf Coast UCO (Argus) futures, there have never been so many new opportunities to hedge price fluctuations and capitalize on price differentials between other Refined Products.

The growth of used cooking oil in biodiesel and renewable fuel sectors has driven the need for a standardized, transparent hedging mechanism. Listed in both metric tons and pounds for added flexibility, Gulf Coast UCO (Argus) futures can be traded alongside our expansive suite of Refined Products and biofuels, like NY Harbor ULSD (HO) and RINS futures and options. They can also be spread against other biodiesel feedstocks like Soybean Oil futures. 

Record interest in financially settled Ethanol (CU) futures spurred the addition of a physically settled contract to allow market participants the flexibility to accept delivery, if preferred. Last year, CU average open interest peaked at nearly 49K contracts in February, while average daily volume reached over 5.8K contracts in June. 

Five new Micro contracts, including Corn, Soybean, Chicago Wheat, Soybean Oil and Soybean Meal, are now available for trading. At the end of the first trading day, combined volumes across all Micro Ags was about 95K, with Soybean and Corn volume leading the way at about 30K contracts each. Soybean Oil, Wheat and Soybean Meal followed.

These smaller contracts trade at 1/10 the size of their respective standard contracts, making agricultural market opportunities more accessible with lower capital requirements.

Wheat futures and options trading volumes increased 10% last year to an ADV of 229K, driving an all-time ADV record of 1.7M across all our Agricultural products. As Wheat futures and options continue to grow, we have announced our plans to launch physically delivered Hard Red Spring Wheat futures and options in early Q2 2025, pending regulatory approvals.

Lithium is only mined in a few countries, making it susceptible to disruption and price volatility. Lithium futures can help with hedging against these risks. 

Lithium Hydroxide (LTH) futures have seen an average daily trade volume of 361 contracts (over 300 metric tons), a 345% increase year-to-date. This contract enhances market transparency, standardization and liquidity, simplifying risk management for participants.

Since their launch in 1974, Gold futures have seen sweeping innovation. As the world has evolved from disco and bell-bottoms to artificial intelligence and athleisure, we have also introduced a series of enhancements that are transforming the way investors and traders engage with gold and other precious metals.

One of the most significant launches has been the introduction of the 1-Ounce Gold (1OZ) futures contract on January 13. This contract has made the gold market more accessible than ever by reducing the minimum trade size to just one ounce of gold, requiring less upfront capital. This lower entry point allows individual investors to participate in the gold market with greater ease and at a smaller cost.

New PGM Weekly options launched on February 3, fueled by newer, greener technologies, such as hydrogen fuel cells. These new Platinum and Palladium Friday Weekly options expire every Friday, allowing you to manage the associated risk of these critically important metals and optimize your trading strategy.

Recycled ferrous scrap is a vital component in new steel production and accounts for over half of the U.S. steel output. Recently, we launched several new Ferrous Scrap options contracts that help with navigating the scrap market and provide an enhanced tool to mitigate price volatility risk. 

HMS 80/20 Ferrous Scrap, CFR Turkey (Platts TSI) options, which launched on January 27, complement our futures contract. These new options will help you navigate the scrap market, specifically around the key import market of Turkey.

Chicago No1 Busheling Ferrous Scrap (Fastmarkets) options launched on February 3, and complement the recently launched futures contract.

The Bloomberg Commodity Index, known as BCOM, is a leading benchmark providing broad-based exposure to commodities without a single commodity or commodity sector dominating the index. Traders can also explore opportunities around BCOM options, featuring greater capital and margin efficiency with similar exposure to OTC swaps. 

The S&P Goldman Sachs Commodity Indices (GSCI) are designed to be investable by incorporating the most liquid Commodity futures. They also offer diversification with low correlations to other asset classes.