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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

TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and
?Monday - Friday 8:30 a.m. - 1:15 p.m. CT
Minimum Price Fluctuation 1/4 of one cent (0.0025) per bushel = $12.50

TAS: Zero or +/- 4 ticks in the minimum tick increment of the outright
Product Code CME Globex: ZC
CME ClearPort: C
Clearing: C
TAS: ZCT
Listed Contracts 9 monthly contracts of Mar, May, Sep and 8 monthly contracts of Jul and Dec listed annually after the termination of trading in the December contract of the current year.
Settlement Method Deliverable
Termination Of Trading Trading terminates on the business day prior to the 15th day of the contract month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement (TAS) is subject to the requirements of Rule 524.A. TAS trades off a "Base Price" of zero (equal to the daily settlement price) to create a differential versus the daily settlement price in the underlying futures contract month. The TAS clearing price equals the daily settlement price of the underlying futures contract month plus or minus the TAS transaction price.

TAS Table
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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