Intercommodity Spread
Last reviewed: September 2, 2026
An intercommodity spread is a futures strategy that combines positions in two different but economically related underlying markets.
What the trader is watching
The focus is on the relationship between the two prices. A trader may buy one futures contract and sell another in the expectation that the price difference will widen or narrow.
Not the same as a calendar spread
A calendar spread generally uses two delivery months of the same futures market. An intercommodity spread uses different underlying markets.
See Intercommodity Futures Spreads for examples and risk considerations.
Sources and further reading
- CFTC Futures Glossary — futures terminology.