Share

Tweet this

Dealing Desk Hotline

(603)-2181 8848

Contract Specifications for CBOT Corn Futures (ZC)

EXCHANGE Chicago Mercantile Exchange (CME)
PRODUCT CODE CME Globex: ZC
CME ClearPort: C
Clearing: C
TAS: ZCT
CONTRACT UNIT 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 QUOTATION Cents per bushel
MINIMUM PRICE FLUCTUATION 1/4 of one cent per bushel ($12.50 per contract)
LISTED CONTRACTS March (H), May (K), July (N), September (U) & December (Z)
SETTLEMENT METHOD Deliverable
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
SETTLEMENT PROCEDURE Corn Settlement Procedures
POSITION LIMITS CBOT Position Limits
TERMINATION OF TRADING The business day prior to the 15th calendar day of the contract month.
TRADE AT MARKER OR TRADE AT SETTLEMENT RULES Trading at settlement is available for first 3 listed futures contracts, nearby new-crop December contract (if not part of the first 3 outrights), first to second month calendar spread, second to third month calendar spread, and nearest Jul-Dec spread when available (when July is listed); 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.

LAST DELIVERY DATE Second business day following the last trading day of the delivery month.
PRICE LIMIT OR CIRCUIT Price Limits
VENDOR CODES Quote Vendor Symbols Listing
EXCHANGE RULEBOOK CBOT 10

This page was last updated: May 12, 2014

RECOMMENDATIONS

 

I’m interested to trade but I don’t have an account. Where do I start?

If you are new to futures trading, we highly recommend you read through each of these informative links on how to get started.

SiteLock