Corn Futures Contract Specs
| Contract Unit | 5,000 bushels | ||||
| Price Quotation | U.S. cents per bushel | ||||
| Trading Hours | Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
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| Minimum Price Fluctuation | 1/4 of one cent (0.0025) per bushel = $12.50 | ||||
| Product Code | CME Globex: ZCCME ClearPort: CClearing: CTAS: ZCT | ||||
| Listed Contracts | 9 monthly contracts of Mar, May and Sep listed annually and 8 monthly contracts of Jul and Dec listed annually | ||||
| Settlement Method | Deliverable | ||||
| Termination Of Trading | Trading terminates on business day before the 15th day of the contract month. | ||||
| Trade At Marker Or Trade At Settlement Rules | Trading at settlement is available for the first 5 contract months and calendar spreads between all the contract months and are subject to the existing TAS rules. The Last Trade Date for CBOT Grain and Oilseed TAS products will be the First Position Day (FPD) of the front-month contract (FPD is the second to last business day in the month prior to the nearby contract month). Trading in all CBOT Grain TAS products will be 19:00-07:45 and 08:30-13:15 Chicago time. All resting TAS orders at 07:45 will remain in the book for the 08:30 opening, unless cancelled. TAS products will trade a total of four ticks above and below the settlement price in ticks of the corresponding futures contract (0.0025), off of a "Base Price" of 0 to create a differential (plus or minus 4 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day. |
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| Settlement Procedures | Corn Settlement Procedures | ||||
| Position Limits | CBOT Position Limits | ||||
| Exchange Rulebook | CBOT 10 | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Price Limit Or Circuit | Price Limits | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Last Delivery Date | Second business day following the last trading day of the delivery month. | ||||
| Grade And Quality | Through December 2018: #2 Yellow at contract Price, #1 Yellow at a 1.5 cent/bushel premium, #3 Yellow at a 1.5 cent/bushel discount. As of March 2019: #2 Yellow at contract Price, #1 Yellow at a 1.5 cent/bushel premium, #3 Yellow at a discount between 2 and 4 cents/bushel depending on broken corn and foreign material and damage grade factors. | ||||
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