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Oats Futures Contract Specs

Contract Size 5,000 bushels (~ 86 metric tons)
Deliverable Grade No. 2 Heavy and No. 1 at par. No. 1 Extra Heavy at 7 cents per bushel over contract price. No. 2 Extra Heavy at 4 cents per bushel over contract price, and No. 1 Heavy at 3 cents per bushel over contract price. No. 2(36 pound total minimum test weight) at 3 cents per bushel under contract price and No. 2 (34 pound total minimum test weight) at 6 cents per bushel under contract price.
Pricing Unit Cents per bushel
Tick Size (minimum fluctuation) 1/4 of one cent per bushel ($12.50 per contract)
Contract Months/Symbols March (H), May (K), July (N), September (U) & December (Z)
Trading Hours CME Globex (Electronic Platform)
Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Open Outcry (Trading Floor)
Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Daily Price Limit View Daily Price Limits for initial and expanded price limits. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.
Settlement Procedure Daily Grains Settlement Procedure (PDF)
Final Oat Settlement Procedure (PDF)
Last Trade Date The business day prior to the 15th calendar day of the contract month.
Last Delivery Date Second business day following the last trading day of the delivery month.
Product Ticker Symbols CME Globex (Electronic Platform) ZO
O=Clearing
Open Outcry (Trading Floor) O
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.