In commodity market terminology, Oats refer to a type of cereal grain known as Avena sativa which is grown for its seed generally in temperate climates. Oats are consumed by humans in the form of oatmeal and rolled oats but are primarily used as a feed for livestock.
Oat futures are traded at the Chicago Board of Trade. Contracts are for 5,000 bushels and prices are quoted in U.S. Dollars with a minimum fluctuation of ¼ cent per bushel or $12.50 a contract. Contract months are July, September, December, March and May. Oats trade under the symbol O.