Contract Specifications for Corn Futures (ZC)
| EXCHANGE | Chicago Mercantile Exchange (CME) |
|---|---|
| PRODUCT SYMBOLS | CME Globex (Electronic Platform) = ZC Open Outcry (Trading Floor) = C |
| CONTRACT SIZE | 5,000 bushels (~127 metric tons) |
| DELIVERABLE GRADE | #2 yellow at contract price, #1 yellow at a 1.5 cent/bushel premium #3 yellow at a 1.5 cent/bushel discount |
| PRICING UNIT | Cents per bushel |
| TICK SIZE (Minimum Fluctuation) | 1/4 of one cent per bushel ($12.50 per contract) |
| CONTRACT MONTHS | March (H), May (K), July (N), September (U) & December (Z) |
| TRADING HOURS | CME Globex (Electronic Platform) 5:00 pm – 2:00 pm Central Time, Sunday – Friday Open Outcry (Trading Floor) 9:30 am – 1:15 pm Central Time, Monday – Friday |
| DAILY PRICE LIMIT | $0.30 per bushel expandable to $0.45 and then to $0.70 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month. |
| SETTLEMENT TYPE | Physical Delivery |
| LAST TRADE DATE | The business day prior to the 15th calendar day of the contract month. |
| LAST DELIVERY DATE | Second business day following the last trading day of the delivery month. |
| EXCHANGE RULES | These contracts are listed with, and subject to, the Rules and Regulations of CBOT. |
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