The futures contract of each commodity stipulates a unified and standardized quantity and unit of quantity, which are collectively called "trading units". For example, the Chicago Board of Trade stipulates that the trading unit of wheat futures contracts is 5000 bushels (about 27.24 kilograms of wheat per bushel), and each wheat futures contract is the same. If traders buy wheat futures contracts on the exchange, it means that they need to buy 5000 bushels of wheat on the contract expiration date.
Quotation unit refers to the unit used in the open bidding process of futures contracts, that is, the monetary price of each unit of measurement. Domestic cathode copper, sugar, soybean and other futures contracts are all quoted at RMB/ton.
Tips: The above contents are for reference only. Investment is risky, so be cautious when entering the market.
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