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Rough Rice Futures Contract Specs

Contract Size 2,000 hundredweights (CWT) (~ 91 Metric Tons)
Deliverable Grade U.S. No. 2 or better long grain rough rice with a total milling yield of not less than 65% including head rice of not less than 48%. Premiums and discounts are provided for each percent of head rice over or below 55%, and for each percent of broken rice over or below 15%. No heat-damaged kernels are permitted in a 500-gram sample and no stained kernels are permitted in a 500-gram sample.  A maximum of 75 lightly discolored kernels are permitted in a 500-gram sample.
Pricing Unit Cents per hundredweight
Tick Size (minimum fluctuation) 1/2 cent per hundredweight ($10.00 per contract)
Contract Months/Symbols January (F), March (H), May (K), July (N), September (U) & November (X)
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 Rough Rice Settlement Procedure (PDF)
Last Trade Date The business day prior to the 15th calendar day of the contract month.
Last Delivery Date Seventh business day following the last trading day of the month.
Product Ticker Symbols CME Globex (Electronic Platform) ZR
Open Outcry (Trading Floor) RR
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.