Rough Rice Futures - Contract Specs
| Contract Unit | 2,000 hundredweights (cwt) (~ 91 Metric Tons) |
|---|---|
| Price Quotation | U.S. dollars and cents per cwt. |
| Trading Hours | CME Globex: Sunday - Thursday, 7:00 p.m. - 9:00 p.m. CT Pre-Open Sunday: 4:00 p.m. - 7:00 p.m. CT Monday - Friday: 8:30 a.m. - 1:20 p.m. CT Pre-Open Monday - Thursday: 4:45 p.m. - 7:00 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 | 1/2 cent per cwt. (0.005) = $10.00 |
| Product Code | CME Globex: ZR CME ClearPort: 14 Clearing: 14 |
| Listed Contracts | Monthly contracts (Jan, Mar, May, Jul, Sep, Nov) listed for 7 months |
| Settlement Method | Deliverable |
| Termination of Trading | Trading terminates on the business day prior to the 15th calendar day of the contract month. |
| Settlement Procedures | |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Price Limit or Circuit | |
| Vendor Codes | |
| Last Delivery Date | Seventh business day following the last trading day of the month. |
| Grade and Quality | U.S. No. 2 or better long grain rough rice with a total milling yield of not less than 65% including head rice of not less than 48%. Premiums and discounts are provided for each percent of head rice over or below 55%, and for each percent of broken rice over or below 15%. No heat-damaged kernels are permitted in a 500-gram sample and no stained kernels are permitted in a 500-gram sample. A maximum of 75 lightly discolored kernels are permitted in a 500-gram sample. |
