Trade the weather that moves energy, power and crops
A weather index future is a position on how much heating, cooling or growing weather one station records over a week or a month. Heating degree days move gas and heating-fuel demand, cooling degree days move electricity load, growing degree days move crop development. Go long if you expect more of it than the market does, short if you expect less. Every contract is priced from the oracle's sixteen-day forecast and settled on the station's final record, anchored on Flare.
Beside each index trades a real-asset future: gas, power, grains. Its price is simulated by this demo from the weather index and a simulated market factor, so you can trade the commodity, the weather behind it, or one against the other.
Weather index contracts settle on the station record. Real-asset prices are generated by the simulator and are not market prices of any commodity. Everything trades and settles in virtual sUSDT.
| Contract | Hedges | Band | Market | Model fair | Edge | Observed | Volume | Closes |
|---|---|---|---|---|---|---|---|---|
| CDD-KAUS-26W47Austin · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 27 | 12.9long 48¢ | 14.3± 7.2 | +1.4 | -0 of 7 days | 454 | 8 d |
| CDD-KLAX-26W47Los Angeles · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 28 | 5.2long 19¢ | 4.2± 4.2 | -1.0 | -0 of 7 days | 527 | 8 d |
| CDD-KMIA-26W47Miami · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 5 - 80 | 47.1long 56¢ | 45.6± 10.0 | -1.5 | -0 of 7 days | 232 | 8 d |
| CDD-OMDB-26W47Dubai · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | Powerfollowed by PWR | 20 - 90 | 55.6long 51¢ | 55.7± 9.9 | +0.1 | -0 of 7 days | 365 | 8 d |
| CDD-SAEZ-26W47Buenos Aires · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 70 | 32.3long 46¢ | 27.5± 8.5 | -4.8 | -0 of 7 days | 394 | 8 d |
| CDD-SBGR-26W47Sao Paulo · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 75 | 31.0long 41¢ | 31.8± 9.6 | +0.7 | -0 of 7 days | 247 | 8 d |
| CDD-VHHH-26W47Hong Kong · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | Powerfollowed by LNG | 0 - 50 | 21.7long 43¢ | 20.7± 7.5 | -1.1 | -0 of 7 days | 214 | 8 d |
| CDD-VIDP-26W47New Delhi · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 35 | 10.5long 30¢ | 8.8± 5.7 | -1.7 | -0 of 7 days | 316 | 8 d |
| CDD-WSSS-26W47Singapore · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | Powerfollowed by PWR | 20 - 90 | 57.7long 54¢ | 58.9± 9.4 | +1.1 | -0 of 7 days | 564 | 8 d |
| CDD-YSSY-26W47Sydney · Cooling degree daysWeek 47 · Nov 16 - Nov 22 | PowerElectricity, LNG for power | 0 - 40 | 15.5long 39¢ | 14.3± 7.2 | -1.3 | -0 of 7 days | 178 | 8 d |
| GDD-KORD-26W47Chicago · Growing degree daysWeek 47 · Nov 16 - Nov 22 | Agriculturefollowed by CORN | 0 - 28 | 15.4long 55¢ | 12.0± 4.9 | -3.3 | -0 of 7 days | 850 | 8 d |
| GDD-SAEZ-26W47Buenos Aires · Growing degree daysWeek 47 · Nov 16 - Nov 22 | Agriculturefollowed by SOYB | 55 - 125 | 86.6long 45¢ | 80.5± 9.3 | -6.1 | -0 of 7 days | 618 | 8 d |
| GDD-SBGR-26W47Sao Paulo · Growing degree daysWeek 47 · Nov 16 - Nov 22 | Agriculturefollowed by COFF, SUGR | 55 - 125 | 85.2long 43¢ | 86.0± 9.1 | +0.8 | -0 of 7 days | 279 | 8 d |
| GDD-VIDP-26W47New Delhi · Growing degree daysWeek 47 · Nov 16 - Nov 22 | Agriculturefollowed by WHT | 30 - 95 | 59.2long 45¢ | 59.6± 8.5 | +0.4 | -0 of 7 days | 452 | 8 d |
| HDD-CYUL-26W47Montreal · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 50 - 120 | 84.0long 49¢ | 85.7± 10.7 | +1.7 | -0 of 7 days | 137 | 8 d |
| HDD-CYYZ-26W47Toronto · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 25 - 100 | 57.7long 44¢ | 56.2± 10.0 | -1.5 | -0 of 7 days | 246 | 8 d |
| HDD-EDDB-26W47Berlin · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 40 - 115 | 82.5long 57¢ | 82.0± 10.0 | -0.5 | -0 of 7 days | 390 | 8 d |
| HDD-EGLL-26W47London · Heating degree daysWeek 47 · Nov 16 - Nov 22 | Energyfollowed by HOIL | 55 - 125 | 83.0long 40¢ | 73.5± 10.0 | -9.5 | -0 of 7 days | 631 | 8 d |
| HDD-KAUS-26W47Austin · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 0 - 35 | 12.1long 34¢ | 13.9± 5.4 | +1.8 | -0 of 7 days | 394 | 8 d |
| HDD-KJFK-26W47New York · Heating degree daysWeek 47 · Nov 16 - Nov 22 | Energyfollowed by NGAS | 20 - 95 | 51.8long 42¢ | 47.9± 9.9 | -3.9 | -0 of 7 days | 409 | 8 d |
| HDD-KLAX-26W47Los Angeles · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 0 - 30 | 13.8long 46¢ | 12.8± 7.6 | -1.0 | -0 of 7 days | 543 | 8 d |
| HDD-KORD-26W47Chicago · Heating degree daysWeek 47 · Nov 16 - Nov 22 | Energyfollowed by NGAS | 30 - 105 | 59.5long 39¢ | 67.5± 10.1 | +8.0 | -0 of 7 days | 702 | 8 d |
| HDD-LEMD-26W47Madrid · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 10 - 80 | 42.5long 46¢ | 41.2± 9.8 | -1.3 | -0 of 7 days | 318 | 8 d |
| HDD-LFPG-26W47Paris · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 20 - 90 | 53.4long 48¢ | 47.8± 9.9 | -5.6 | -0 of 7 days | 252 | 8 d |
| HDD-RJTT-26W47Tokyo · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 5 - 75 | 39.4long 49¢ | 39.2± 9.3 | -0.2 | -0 of 7 days | 177 | 8 d |
| HDD-RKSI-26W47Seoul · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 45 - 120 | 89.9long 60¢ | 90.7± 9.4 | +0.8 | -0 of 7 days | 515 | 8 d |
| HDD-VIDP-26W47New Delhi · Heating degree daysWeek 47 · Nov 16 - Nov 22 | EnergyNatural gas, Heating oil | 0 - 26 | 6.5long 25¢ | 6.2± 5.4 | -0.4 | -0 of 7 days | 135 | 8 d |
| CDD-KAUS-26W48Austin · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 55 | 12.5long 23¢ | 3.2± 2.9 | -9.3 | -0 of 7 days | 303 | 15 d |
| CDD-KLAX-26W48Los Angeles · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 50 | 14.8long 30¢ | 12.9± 10.5 | -2.0 | -0 of 7 days | 437 | 15 d |
| CDD-KMIA-26W48Miami · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 120 | 50.3long 42¢ | 31.9± 14.3 | -18.4 | -0 of 7 days | 356 | 15 d |
| CDD-OMDB-26W48Dubai · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | Powerfollowed by PWR | 0 - 100 | 44.9long 45¢ | 44.1± 15.1 | -0.7 | -0 of 7 days | 425 | 15 d |
| CDD-SAEZ-26W48Buenos Aires · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 60 | 23.7long 40¢ | 14.4± 10.3 | -9.3 | -0 of 7 days | 433 | 15 d |
| CDD-SBGR-26W48Sao Paulo · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 90 | 29.3long 33¢ | 32.9± 14.2 | +3.6 | -0 of 7 days | 536 | 15 d |
| CDD-VHHH-26W48Hong Kong · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | Powerfollowed by LNG | 0 - 80 | 29.0long 36¢ | 19.8± 12.1 | -9.2 | -0 of 7 days | 478 | 15 d |
| CDD-VIDP-26W48New Delhi · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 45 | 14.4long 32¢ | 10.8± 9.2 | -3.6 | -0 of 7 days | 506 | 15 d |
| CDD-WSSS-26W48Singapore · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | Powerfollowed by PWR | 0 - 120 | 59.5long 50¢ | 57.8± 15.5 | -1.7 | -0 of 7 days | 510 | 15 d |
| CDD-YSSY-26W48Sydney · Cooling degree daysWeek 48 · Nov 23 - Nov 29 | PowerElectricity, LNG for power | 0 - 65 | 19.1long 29¢ | 19.6± 11.1 | +0.5 | -0 of 7 days | 367 | 15 d |
| GDD-KORD-26W48Chicago · Growing degree daysWeek 48 · Nov 23 - Nov 29 | Agriculturefollowed by CORN | 0 - 29 | 5.8long 20¢ | 1.0± 2.0 | -4.8 | -0 of 7 days | 467 | 15 d |
| GDD-SAEZ-26W48Buenos Aires · Growing degree daysWeek 48 · Nov 23 - Nov 29 | Agriculturefollowed by SOYB | 10 - 120 | 68.3long 53¢ | 61.2± 14.5 | -7.1 | -0 of 7 days | 432 | 15 d |
| GDD-SBGR-26W48Sao Paulo · Growing degree daysWeek 48 · Nov 23 - Nov 29 | Agriculturefollowed by COFF, SUGR | 30 - 140 | 83.2long 48¢ | 84.8± 14.2 | +1.6 | -0 of 7 days | 669 | 15 d |
| GDD-VIDP-26W48New Delhi · Growing degree daysWeek 48 · Nov 23 - Nov 29 | Agriculturefollowed by WHT | 10 - 110 | 61.0long 51¢ | 57.1± 12.7 | -3.9 | -0 of 7 days | 488 | 15 d |
| HDD-CYUL-26W48Montreal · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 20 - 130 | 77.5long 52¢ | 76.8± 16.9 | -0.8 | -0 of 7 days | 14 | 15 d |
| HDD-CYYZ-26W48Toronto · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 120 | 81.2long 68¢ | 100.4± 16.7 | +19.3 | -0 of 7 days | 501 | 15 d |
| HDD-EDDB-26W48Berlin · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 40 - 160 | 99.7long 50¢ | 97.2± 16.0 | -2.5 | -0 of 7 days | 575 | 15 d |
| HDD-EGLL-26W48London · Heating degree daysWeek 48 · Nov 23 - Nov 29 | Energyfollowed by HOIL | 30 - 150 | 76.1long 38¢ | 68.6± 15.8 | -7.5 | -0 of 7 days | 693 | 15 d |
| HDD-KAUS-26W48Austin · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 45 | 24.3long 54¢ | 72.9± 15.8 | +48.6 | -0 of 7 days | 524 | 15 d |
| HDD-KJFK-26W48New York · Heating degree daysWeek 48 · Nov 23 - Nov 29 | Energyfollowed by NGAS | 0 - 90 | 44.6long 50¢ | 62.6± 16.2 | +18.0 | -0 of 7 days | 537 | 15 d |
| HDD-KLAX-26W48Los Angeles · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 45 | 11.8long 26¢ | 9.4± 9.1 | -2.3 | -0 of 7 days | 502 | 15 d |
| HDD-KORD-26W48Chicago · Heating degree daysWeek 48 · Nov 23 - Nov 29 | Energyfollowed by NGAS | 30 - 160 | 101.2long 55¢ | 126.3± 16.8 | +25.2 | -0 of 7 days | 363 | 15 d |
| HDD-LEMD-26W48Madrid · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 10 - 130 | 60.3long 42¢ | 57.7± 15.7 | -2.6 | -0 of 7 days | 472 | 15 d |
| HDD-LFPG-26W48Paris · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 10 - 130 | 72.2long 52¢ | 74.0± 16.0 | +1.8 | -0 of 7 days | 250 | 15 d |
| HDD-RJTT-26W48Tokyo · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 110 | 53.8long 49¢ | 62.0± 15.5 | +8.1 | -0 of 7 days | 399 | 15 d |
| HDD-RKSI-26W48Seoul · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 20 - 140 | 95.9long 63¢ | 101.7± 15.8 | +5.8 | -0 of 7 days | 418 | 15 d |
| HDD-SAEZ-26W48Buenos Aires · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 35 | 7.7long 22¢ | 9.9± 8.7 | +2.2 | -0 of 7 days | 450 | 15 d |
| HDD-SBGR-26W48Sao Paulo · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 45 | 8.0long 18¢ | 2.1± 4.1 | -5.9 | -0 of 7 days | 401 | 15 d |
| HDD-VIDP-26W48New Delhi · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 45 | 11.5long 25¢ | 11.8± 9.5 | +0.4 | -0 of 7 days | 197 | 15 d |
| HDD-YSSY-26W48Sydney · Heating degree daysWeek 48 · Nov 23 - Nov 29 | EnergyNatural gas, Heating oil | 0 - 35 | 8.0long 23¢ | 6.5± 7.1 | -1.5 | -0 of 7 days | 109 | 15 d |
| CDD-KAUS-NOV26Austin · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 0 - 60 | 34.3long 57¢ | 36.7± 8.8 | +2.4 | 18.212 of 30 days | 550 | 16 d |
| CDD-KLAX-NOV26Los Angeles · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 10 - 120 | 58.1long 44¢ | 53.9± 13.4 | -4.2 | 33.712 of 30 days | 416 | 16 d |
| CDD-KMIA-NOV26Miami · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 130 - 300 | 204.0long 44¢ | 188.2± 20.4 | -15.9 | 100.912 of 30 days | 367 | 16 d |
| CDD-OMDB-NOV26Dubai · Cooling degree daysNovember 2026 | Powerfollowed by PWR | 210 - 370 | 288.8long 49¢ | 286.2± 21.3 | -2.6 | 152.012 of 30 days | 174 | 16 d |
| CDD-SAEZ-NOV26Buenos Aires · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 30 - 170 | 95.1long 47¢ | 81.9± 16.0 | -13.2 | 22.011 of 30 days | 323 | 16 d |
| CDD-SBGR-NOV26Sao Paulo · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 60 - 210 | 127.9long 45¢ | 132.2± 20.2 | +4.3 | 51.012 of 30 days | 223 | 16 d |
| CDD-VHHH-NOV26Hong Kong · Cooling degree daysNovember 2026 | Powerfollowed by LNG | 100 - 240 | 167.2long 48¢ | 161.9± 16.8 | -5.3 | 106.013 of 30 days | 309 | 16 d |
| CDD-VIDP-NOV26New Delhi · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 50 - 160 | 104.9long 50¢ | 103.3± 13.0 | -1.5 | 66.512 of 30 days | 207 | 16 d |
| CDD-WSSS-NOV26Singapore · Cooling degree daysNovember 2026 | Powerfollowed by PWR | 190 - 350 | 278.3long 55¢ | 279.7± 21.2 | +1.4 | 136.513 of 30 days | 338 | 16 d |
| CDD-YSSY-NOV26Sydney · Cooling degree daysNovember 2026 | PowerElectricity, LNG for power | 20 - 140 | 79.8long 50¢ | 78.0± 15.6 | -1.8 | 34.013 of 30 days | 353 | 16 d |
| GDD-KORD-NOV26Chicago · Growing degree daysNovember 2026 | Agriculturefollowed by CORN | 20 - 75 | 55.4long 64¢ | 50.8± 5.5 | -4.6 | 37.512 of 30 days | 609 | 16 d |
| GDD-SAEZ-NOV26Buenos Aires · Growing degree daysNovember 2026 | Agriculturefollowed by SOYB | 240 - 400 | 324.6long 53¢ | 301.6± 20.4 | -23.0 | 103.511 of 30 days | 638 | 16 d |
| GDD-SBGR-NOV26Sao Paulo · Growing degree daysNovember 2026 | Agriculturefollowed by COFF, SUGR | 290 - 440 | 353.1long 42¢ | 359.5± 20.0 | +6.4 | 141.012 of 30 days | 443 | 16 d |
| GDD-VIDP-NOV26New Delhi · Growing degree daysNovember 2026 | Agriculturefollowed by WHT | 260 - 400 | 329.1long 49¢ | 326.6± 18.1 | -2.5 | 162.512 of 30 days | 242 | 16 d |
| HDD-CYUL-NOV26Montreal · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 230 - 390 | 309.1long 49¢ | 310.1± 24.6 | +1.1 | 80.511 of 30 days | 187 | 16 d |
| HDD-CYYZ-NOV26Toronto · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 180 - 340 | 278.3long 61¢ | 302.1± 23.2 | +23.8 | 88.012 of 30 days | 329 | 16 d |
| HDD-EDDB-NOV26Berlin · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 310 - 480 | 403.8long 55¢ | 393.5± 22.3 | -10.3 | 162.512 of 30 days | 541 | 16 d |
| HDD-EGLL-NOV26London · Heating degree daysNovember 2026 | Energyfollowed by HOIL | 260 - 430 | 330.7long 42¢ | 304.5± 22.0 | -26.2 | 117.512 of 30 days | 453 | 16 d |
| HDD-KAUS-NOV26Austin · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 0 - 150 | 62.3long 42¢ | 108.1± 19.9 | +45.8 | 5.612 of 30 days | 614 | 16 d |
| HDD-KJFK-NOV26New York · Heating degree daysNovember 2026 | Energyfollowed by NGAS | 100 - 260 | 199.3long 62¢ | 206.9± 22.6 | +7.6 | 49.112 of 30 days | 526 | 16 d |
| HDD-KLAX-NOV26Los Angeles · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 0 - 90 | 29.6long 33¢ | 27.7± 14.1 | -1.9 | 0.212 of 30 days | 190 | 16 d |
| HDD-KORD-NOV26Chicago · Heating degree daysNovember 2026 | Energyfollowed by NGAS | 220 - 390 | 314.2long 55¢ | 339.0± 23.3 | +24.8 | 83.612 of 30 days | 888 | 16 d |
| HDD-LEMD-NOV26Madrid · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 140 - 300 | 203.8long 40¢ | 198.4± 21.8 | -5.4 | 74.512 of 30 days | 378 | 16 d |
| HDD-LFPG-NOV26Paris · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 200 - 370 | 292.6long 54¢ | 282.9± 22.2 | -9.7 | 119.512 of 30 days | 322 | 16 d |
| HDD-RJTT-NOV26Tokyo · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 70 - 230 | 142.5long 45¢ | 159.6± 21.2 | +17.0 | 40.513 of 30 days | 320 | 16 d |
| HDD-RKSI-NOV26Seoul · Heating degree daysNovember 2026 | EnergyNatural gas, Heating oil | 210 - 370 | 306.7long 60¢ | 321.7± 21.5 | +15.0 | 100.513 of 30 days | 540 | 16 d |
Index points are °C-days. Market is the index the long price implies inside the contract's band; edge is model fair minus market, so a positive edge means the model sits above the crowd.
Two products, traded as a pair
The weather index is real: forecast and station record. The real-asset price is this demo's simulation of a commodity that depends on that weather. Linking the two shows what a weather finance exchange is for.
Heating, cooling or growing degree days at one station over a week or a month, re-priced every hour and settled on the final record.
Listed at 100. A colder week lifts gas, a hotter one lifts power, a warm growing month eases corn and lifts coffee. A simulated market factor adds everything that is not weather.
Each asset page gives the number of weather shares that take the weather out of an asset position. Simulated spread traders trade the two markets against each other when they drift apart.
| Real asset · simulated | Follows | Per 1% of index | Why the weather moves it |
|---|---|---|---|
| NGASNatural gas | HDD | +0.90% | A colder period burns more gas for heating, so the simulated price rises with heating degree days. |
| HOILHeating oil | HDD | +0.55% | Heating oil demand follows the cold, more loosely than gas: the simulated price rises with heating degree days. |
| PWRElectricity | CDD | +1.10% | Heat drives air-conditioning load, and power cannot be stored: the simulated price rises steeply with cooling degree days. |
| LNGLNG for power | CDD | +0.60% | A hotter period burns more gas in power stations, so the simulated price rises with cooling degree days. |
| CORNCorn | GDD | -0.60% | More growing heat moves the crop along and lifts the expected harvest, so the simulated price falls as growing degree days rise. |
| SOYBSoybeans | GDD | -0.50% | More growing heat lifts the expected harvest, so the simulated price falls as growing degree days rise. |
| SUGRSugar cane | GDD | -0.50% | Cane grows faster in warm weather: the simulated price falls as growing degree days rise. |
| COFFCoffee | GDD | +0.70% | Coffee trees suffer in heat: a hotter period cuts the expected crop, so the simulated price rises with growing degree days. |
| WHTWheat | GDD | +0.60% | Heat while the grain fills cuts wheat yields, so the simulated price rises with growing degree days. |
| MAIZMaize | GDD | -0.60% | More growing heat lifts the expected harvest, so the simulated price falls as growing degree days rise. |
The sensitivities are assumptions of this simulation, chosen to show the direction of each link. They are not estimates from market data.
Three indexes, three parts of the real economy
Colder than normal lifts it; a mild spell sinks it.
- Index
- max(0, 18 - (high + low) / 2), summed over the period
- Exposure
- Natural gas, Heating oil, District heat
- Who hedges
- Gas utilities, heating-fuel distributors, building operators
Heat lifts it; a cool spell sinks it.
- Index
- max(0, (high + low) / 2 - 18), summed over the period
- Exposure
- Electricity, LNG for power
- Who hedges
- Power retailers, grid operators, data centres, cold chains
Warm growing weather lifts it; cold or scorching days add little.
- Index
- (high + low) / 2 - 10 with both held to 10..30 °C, summed over the period
- Exposure
- Grains, Oilseeds, Soft commodities
- Who hedges
- Growers, processors, input suppliers, commodity desks
Each contract has a band of index points. A long share pays where the final index lands inside the band, from 0 at the bottom to 1 sUSDT at the top; a short share pays the rest. You pay the price in full when you buy, so the most you can lose is what you paid: no margin call, no liquidation.
The model fair value adds up the days already on the station's record and the forecast for the rest, with the spread Forecast Watch measures at each lead. The market price is the crowd's: a market maker quotes both sides at any size, and every trade moves the index it implies.
On the sum of the station's daily records, once the oracle marks every day of the period final and settleable. A period with a day that cannot settle is void: every position refunded at cost. At a US station the daily figures are those of the NWS daily climate report, and the contract settles one day after the last report is issued. Rules →