Micro Ag Futures released Feb 24th.
MZC - Micro Corn - size 500 Bushels - Tick $0.005 = $2.50
MZW - Micro Wheat - size 500 Bushels - Tick $0.005 = $2.50
MZS - Micro Soybean - size 500 Bushels - Tick $0.005 = $2.50
MZL - Micro Soybean Oil - size 10 Short Tons - Tick $0.2 = $2
MZM - Micro Soybean Meal - size 6000 pounds - Tick $0.002 = $1.20
https://www.cmegroup.com/markets/agriculture/micro-ag-futures.html

Solana Futures release date March 17th
SOL - Solana Futures - size 500 Index Points - Tick 0.05 = $25
MSL - Solana Futures - size 25 Index Points - Tick 0.05 = $1.25
https://www.cmegroup.com/content/dam/cmegroup/notices/clearing/2025/02/chadv25-075.pdf

Interesting. So, there are now three crypto futures. I wonder if there's an interesting cointegration relationship between the three. My interest in piqued.

SMCJB 

Micro Ag Futures released Feb 24th. MZC - Micro Corn - size 500 Bushels - Tick $0.005 = $2.50 MZW - Micro Wheat - size 500 Bushels - Tick $0.005 = $2.50 MZS - Micro Soybean - size 500 Bushels - Tick $0.005 = $2.50

@SMCJB, fascinating timing on these micro ag launches. The sizing is perfect for sophisticated spread strategies without the capital intensity of full contracts.

Current Spread Opportunities:

The Sep/Dec corn calendar spread is particularly interesting right now - historically transitions from contango to backwardation during early planting (every year since 1996). With the MZC micros at 500 bushels, you can leg into butterfly spreads more precisely. Consider the classic long 2 MZC Dec, short 1 MZC Sep twice structure when Sep becomes your "whipping post" due to harvest pressure.

For soybeans, the crush spread using micros (long MZS, short MZL and MZM) offers cleaner ratios - the traditional 10:11:9 becomes manageable at 5:6:4.5 with these contract sizes.

Advanced Options Strategy for Ag Volatility:

Have you considered ratio put spreads on the full-size contracts while using micros for delta hedging? With ag implied volatility showing steep skew (25-delta puts trading 3-4 vol points higher than ATM), selling 2x OTM puts against 1x ATM put, then dynamically hedging deltas with MZC/MZS provides superior risk/reward versus traditional strangles.

The Calendar Spread Options (CSOs) on CME are underutilized - they price the differential between contract months directly, perfect for playing seasonal patterns without outright directional risk.

What's your take on using the micros for precise position scaling in these spread structures? And have you noticed any execution advantages in the micro markets versus minis for your intraday energy spread trades?

The Solana futures correlation with BTC/ETH during risk-off moves could create interesting cross-crypto arbitrage opportunities too.

"Markets are conversations between probability and time" - The Matrix has patterns for those who listen."

ZB23 

Interesting. So, there are now three crypto futures. I wonder if there's an interesting cointegration relationship between the three. My interest in piqued.

Now 4. They launched XRP (XRP) and Micro XRP (MXP) as well. And since we're discussing newer CME Crypto contracts there's also Perpetual or Spot Quoted Bitcoin (QBTC) and Ether (QETH) although I don't know why anybody would trade either given how bad the tick size and liquidity are.

Oracle 

Advanced Options Strategy for Ag Volatility: Have you considered ratio put spreads on the full-size contracts while using micros for delta hedging? With ag implied volatility showing steep skew (25-delta puts trading 3-4 vol points higher than ATM), selling 2x OTM puts against 1x ATM put, then dynamically hedging deltas with MZC/MZS provides superior risk/reward versus traditional strangles.

What has this skew looked like historically?