MI Forecast and MI Procure both offer subscriptions to commodity-specific market intelligence. In any/all cases in which price forecasts (or underlying models and features) are referenced, they are applicable to the appropriate futures contract for the commodity. The MI product line does not create price forecasts or hedging recommendations for cash markets (aka "spot price"), forward contracts, or non-exchange-traded derivatives.
The name of a commodity, e.g. "Corn," should be interpreted as the corresponding futures contract whenever it used in reference to exchange/market data and derived data outputs from an MI product.
The exchange-traded futures contract for each of the commodities that are offered in the MI product line is listed in the table below.
| Commodity | Futures Symbol | Futures Exchange | Link to Specification |
| Corn | ZC | CBOT | Corn on CBOT |
| Soybean Meal | ZM | CBOT | Soybean Meal on CBOT |
| Soybean Oil | ZL | CBOT | Soybean Oil on CBOT |
| White Sugar | W | ICE Futures Europe | White Sugar on ICE |
| Sugar No. 11 | SB | ICE Futures U.S. | Sugar No. 11 on ICE |
| Arabica Coffee | KC | ICE Futures U.S. | Arabica Coffee on ICE |
| *Robusta Coffee | RC | ICE Futures Europe | Robusta Coffee on ICE |
| London Cocoa | C | ICE Futures Europe | London Cocoa on ICE |
| Palm Oil | FCPO | Bursa Malaysia | Crude Palm Oil on Bursa |
* Robusta Coffee: anticipated release 2Q2024.
Units of Measure
In all cases where the price of a commodity futures contract is referenced (e.g. in price forecast charts), the units of price are identical to the units specified by the exchange on which the contract trades. Abbreviations and units are defined as follows:
Currency Abbreviations & Definitions
USD: U.S. Dollar currency.
Cents: 1 Cent = 1/100th of a USD.
GBP: British Pound Sterling currency.
MYR: Malaysian Ringgit currency.
Mass, Weight, & Volume
Bu: Bushel.
Ton: "Short Ton" = 2000 pounds
Tonne: Metric Tonne = 1000 kilograms
LB or Pound: Avoirdupois Pound (mass) = 0.45359237 kilograms
CWT: Hundredweight = 100 pounds (~45.36 kg) in the U.S. and Canada.
Note: the lowercase version of any of the above is used interchangeably with the uppercase version and should be interpreted as having an identical meaning.
Also visit: CME Agricultural Conversion Calculator