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Corn Futures - Contract Specs
| Contract Unit | 5,000 bushels |
|---|---|
| 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 TAS: Sunday - Friday 7:00 p.m. - 7:45 a.m. and Monday - Friday 8:30 a.m. - 1:15 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 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. |
| TAM or TAS 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 | |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Price Limit or Circuit | |
| Vendor Codes | |
| 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. |
