DCE Corn

From MarketsWiki

See Corn futures for a discussion of the general topic.

DCE corn futures trade on the Dalian Commodity Exchange (DCE). They were launched Sept. 22, 2004.^[1]

Currently, China is the world’s No.2 corn producer^[2].

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Each DCE corn futures contract represents 10 tons of deliverable grade corn, which is defined in accordance with DCE Corn Delivery Quality Standard F/DCE D001-2004, while substitutions at differentials that meet DCE delivery rules are also good for delivery, and its last delivery date is set as the second day after the last trading day of the delivery month.^[3]

Each DCE corn futures contract is subject to a margin rate equivalent to five percent of contract value (e.g., 941.5 yuan = 1883 yuan [C901 last price on June 2, 2008] x 10 [tons/contract] x 5 percent) as well as a trading fee of no more than 3 yuan (RMB) / contract.

In 2007, DCE corn futures traded 118,873,484 contracts (-12.13 percent year over year) and its turnover amounted to 1,982.2 billion yuan (-2.68 percent year over year), making it the second most active (in terms of volume) futures contract on the DCE as well as in China's overall futures market.

DCE Corn futures
Exchange	Dalian Commodity Exchange
Settlement	Physically delivered
Trade Unit	10 tons / contract
Point Value	10 yuan (RMB)
Tick Value	10 yuan (RMB)
Contract Months	Corn
Last Trading Day	10th Trading Day of the delivery month
Note: This contract is electronic ONLY -- no open outcry
	No Open Outcry	No Electronic Market
Trading Hours	N/A	9 - 11:30 a.m., 1:30 - 3 p.m.
Ticker Symbol	N/A	C
Price Limits	N/A	Four percent of last settlement price

Notes

References

1. ↑ DCE History. Dalian Commodity Exchange. Retrieved on June 2, 2008.
2. ↑ Grain Harvest Sets Record, But Supplies Still Tight. Worldwatch Institute. Retrieved on June 25, 2008.
3. ↑ Corn Revised Contract. Dalian Commodity Exchange. Retrieved on June 2, 2008.