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Corn Futures and Options Trading

Corn Futures

Specs - 5,000 bushels

Tick Size - $0.025/bu

Daily Price Limit - $0.20/bu

Strike Price - N/A

Contract Months - Dec, Mar, May, Jul, Sep

Last Trading Day - Seventh business day proceeding the last business day of the delivery month

Expiration Day - N/A

Trading Hours - 9:30a.m. - 1:15p.m.

Ticker Symbol - C

Corn Options

Size - One CBOT Corn Futures

Tick Size - 1/8c/bu

Daily Price Limit - $0.20/bu

Strike Price - $0.10/bu

Contract Months - Dec, Mar, May, Jul, Sep

Last Trading Day - Last Friday proceeding the first notice day of the corresponding futures contract by at least five business days.

Expiration Day - Unexercised options expire at 10 a.m. on the first Saturday following the last trading day.

Trading Hours - 9:30 a.m. - 1:15 p.m.

Converting metric tons into bushels and bales:

One million metric tons of corn equals 39.37 million bushels.

visit Orange Juice Futures, Cocoa Futures, Coffee Futures, Sugar Futures, Soybean Futures, Wheat Futures, Cotton Futures and Ethanol Futures.


Corn Futures Commodity Contract Specifications

Corn has been called the other yellow gold because of its value around the globe throughout most of the history of man. The corn seed marks the beginning of one of the world's most versatile commodity crops. For centuries corn has been a staple of everyday life, serving as a source of food, energy and currency. Early Indians migrated from Eastern Asia through North America to what is now South America and used corn plants for everything from making clothes to making a primitive beer from its chewed kernels. The Mayans and Incas have cultivated for thousands of years, maize crops to today's advanced corn hybrids resistant to pests and chemicals, corn remains firmly rooted at the heart of agriculture. Corn is thought to be the second most cultivated plant throughout the history of man behind wheat.

As an exchange traded commodity and future contract corn is one of the two originals. Cotton futures began trading in New York at about the same time that corn futures began trading in Chicago in the mid 1800's. The original corn futures or forward contract Specs, commodity contract specs, was for 3000 bushels instead of the 5000 bushel commodity contract of today. The membership fees were $3 instead of the 6 and 7 figure costs for exchange seats today. The Chicago Board of Trade is the premiere corn future trading exchange in the world today.

Agriculture commodities are the world's largest industry. On a worldwide basis, more people are involved with agriculture than all other occupations combined. There may be only 2 million people actively involved in production agriculture in the United States, but according to the International Food Information Council, one out of every six jobs is tied, in some way, to the agricultural commodity industry. All aspects of industry, from producer to researcher, teacher to commodity broker and mechanic to truck driver, agriculture support all of the parts of our American economy.


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Trading in futures and options involves a high degree of risk and may not be suitable for everyone.