Contract Unit | 1 futures contract for 5,000 bushels | ||||
Minimum Price Fluctuation | 1/8 of one cent (0.00125) per bushel = $6.25 | ||||
Price Quotation | U.S. cents per bushel | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with post session until 1:20 p.m. CT immediately following the close | |
Product Code | CME Globex: OZCCME ClearPort: COpen Outcry: Put: PY Call: CYClearing: C | ||||
Listed Contracts | Monthly contracts listed for 3 consecutive months 2 months of Mar listed after the termination of trading in the August contract month 2 months of May listed after the termination of trading in the October contract month 2 months of Sep listed after the termination of trading in the April contract month 6 months of Jul and Dec listed after the termination of trading in the December contract month |
||||
Termination Of Trading | Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month. | ||||
Exchange Rulebook | CBOT 10A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options with striking prices in integral multiples of five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E. | ||||
Exercise Style | The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Price Quotation | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
CME ClearPort: | Sunday - Friday 6:00 p.m. - 5:45 p.m. CT (7:00 p.m. – 6:45 p.m. ET) with a 15-minute break each day beginning at 5:45 p.m. CT (6:45 p.m. ET). |
Product Code | CME Globex: CZCCME ClearPort: PYCOpen Outcry: PYCClearing: PYC | ||||
Listed Contracts | The nearby five successive future calendar spreads (Sep-Dec, Dec-Mar, Mar-May, May-July, July-Sep) | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Price Quotation | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: 12CCME ClearPort: CCZOpen Outcry: CCZClearing: CCZ | ||||
Listed Contracts | The nearest December-December (1 year) Corn futures spread. | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Price Quotation | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: CZ8CME ClearPort: 8CCOpen Outcry: 8CCClearing: 8CC | ||||
Listed Contracts | The nearest December-July Corn futures spread. | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Price Quotation | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: CZ6CME ClearPort: CC6Open Outcry: CC6Clearing: CC6 | ||||
Listed Contracts | The nearest July-December Corn futures spread. | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | 5,000 bushels | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel = $6.25 | ||||
Price Quotation | Cents per bushel | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: CZ9CME ClearPort: 3CCOpen Outcry: 3CCClearing: 3CC | ||||
Listed Contracts | 1 spread contract (Mar) listed annually | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Price Quotation | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: CZ7CME ClearPort: 7CCOpen Outcry: 7CCClearing: 7CC | ||||
Listed Contracts | March-July Corn futures spread. | ||||
Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10J | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
Exercise Style | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised absent contrary instructions. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One new crop Corn futures contract (December) of 5,000 bushels | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel ($6.25 per contract) | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: OCDCME ClearPort: CDFOpen Outcry: CDFClearing: CDF | ||||
Listed Contracts | Monthly cotracts listed for 24 months. Add 12 new contract months (Oct-Sep) after termination of trading in the September contract of the current year. Underlying Rule: Jan-Sep excersise into the December contract of the current year. Oct-Dec excersise into the December contract of the following year. |
||||
Termination Of Trading | Trading terminates on the Friday before 2nd last business day of the month prior to the contract month. | ||||
Position Limits | CBOT Position Limits | ||||
Exchange Rulebook | CBOT 10A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options with strike prices in integral multiples of five (5) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E. | ||||
Exercise Style | American-style. The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised. | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Contract Unit | One Corn futures contract (of a specified month) of 5,000 bushels | ||||
Minimum Price Fluctuation | 1/8 of one cent per bushel = $6.25 | ||||
Price Quotation | U.S. cents per bushel | ||||
Trading Hours | CME Globex: | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close |
|
Product Code | CME Globex: ZC1,ZC2,ZC3,ZC4,ZC5CME ClearPort: PY1,PY2,PY3,PY4,PY5Open Outcry: PY1,PY2,PY3,PY4,PY5Clearing: PY1,PY2,PY3,PY4,PY5 | ||||
Listed Contracts | Weekly contracts listed for 3 consecutive weeks. No weekly contract listed the same week as the monthly option expiration. | ||||
Termination Of Trading | Trading terminates on Friday of the contract week. | ||||
Exchange Rulebook | CBOT 10A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Trading shall be conducted for put and call options with strike prices in integral multiples of five (5) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E. | ||||
Exercise Style | American | ||||
Settlement Method | Deliverable | ||||
Underlying | Corn Futures |
Whether you are a new trader looking to get started in futures or an experienced trader looking to hedge your risk in the agricultural markets, Corn futures provide you with the opportunity you need.
© 2019 CME Group Inc. All rights reserved.