Minimum Price Changes

Commodity and Futures Exchanges establish the minimum amount that the price can fluctuate upward or downward. This minimum fluctuation is known as a " tick " Each tick for the grain market is 0.25 cents per bushel. On one 5,000-bushel grain contract, that's $12.50. On a gold futures contract, the tick is 10 cents per ounce, which each 100-ounce contract is $10. You'll want to familiarize yourself with the minimum price fluctuation, the tick size, for whichever commodity contract you decide to trade. Also be sure to know how a quoted price change of any given amount will affect the price value of that contract.

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