Where does futures arbitrage occur?
There are two main locations where arbitrage occurs for agricultural commodity futures markets. Chicago is the location of both of these main futures exchanges. The Chicago Board of Trade (CBOT) is where corn, soybean, soybean oil, soybean meal, wheat and rough rice futures are traded. The Chicago Mercantile Exchange (CME) is where futures in lean hogs, live cattle, stocker cattle, and feeder cattle are traded. In addition, cotton futures are traded at the New York Cotton Exchange (NYCE).