Milling Yield Premium and Discount Schedule Effective September 3, 2019 in Rough Rice Futures

Effective September 3, 2019, The Board of Trade of the City of Chicago, Inc. (“CBOT” or “Exchange”) will amend the milling yield premium and discount fee schedule for the Rough Rice Futures contract.  The United States Department of Agriculture (USDA) has announced the 2019 rice loan rates by class[1].  For the 2019 crop stored in commercial warehouses, the whole kernel (head rice) loan rate for long grain rice is $11.09 per hundredweight (cwt.) and the broken kernel (broken rice) loan rate for long grain rice is $6.11 per cwt.  The Rough Rice futures contract milling yield premium and discount schedule that takes effect on the first delivery day of the September 2019 contract (September 3, 2019) is based on the 20 percent trimmed mean of the 2015 through 2019 USDA loan rates for long grain rice.

If you require any additional information, please contact Fred Seamon at 312-634-1587 or via e-mail at Fred.Seamon@cmegroup.com or Alison Coughlin at 312-338-7171 or via email at Alison.Coughlin@cmegroup.com.   

[1] https://www.fsa.usda.gov/Assets/USDA-FSA-Public/usdafiles/Price-Support/pdf/2019/2019_ricelr.pdf

Please click here for PDF of SER-8365.