agricultural futures

Futures whose underlying instruments are based on agricultural commodities, such as grains, cattle, coffee, or butter. Agricultural futures have had a long history, with the first contracts originating in 1865 on the Chicago Board of Trade. Wheat and corn futures and options have traded since 1877 on the Chicago Board of Trade. Agricultural futures are in contrast to financial futures, which are based on financial instruments such as the U.S. Treasury bond or stock market indices.