#2 Yellow Corn (CME)
Corn (also known as maize in some areas) is a primary staple crop of the Texas Coastal Bend. Corn has a variety of uses ranging from human and animal feedstuffs to ethanol production and even soda flavoring! Corn is traded on the Chicago Mercantile Exchange (CME) and is priced against the closest contract after the delivery month.
#2 Yellow Soybeans (CME)
Soybeans have been grown for many decades along the Texas Gulf Coast in limited quantities, but have more recently made a resurgence in acreage due to higher pricing and demand. Soybeans are used for the crush market (soybean oil), in addition to livestock feed and biofuel inputs. Soybeans are traded on the Chicago Mercantile Exchange (CME) and are priced against the closest contract after the delivery month.
Wheat is commonly grown in the more central regions of Texas as it is susceptible to the higher humidity along the coast. With the advent of newer technologies, seed varieties, and agronomic techniques, wheat is becoming a more important crop in this region. Wheat is traded on the Kansas City Board of Trade (KCBOT/ICE) and also the Chicago Mercantile Group (CME). Iy is normally priced in the Coastal Bend of Texas against the closest KCBOT contract after the delivery month.
Grain sorghum, commonly called milo, is an oilseed crop that is very common in the Texas Coastal region- from Houston all the way to the Rio Grande. While traditionally used as livestock and poultry feed, milo has increasingly been sent overseas to the export markets of Asia. This crop is normally measured and sold in hundredweights (cwts) but is priced in bushels against the Chicago Mercantile Exchange (CME) corn contract.