DCE Corn

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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].

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 2008, DCE corn futures traded 119,836,920 contracts (+0.81 percent year over year) and its turnover amounted to 2,157.1 billion yuan (+8.83 percent year over year), making it the third most active (in terms of volume) futures contract on the DCE.

DCE Monthly Volume by Product.JPG


DCE Corn futures
Exchange Dalian Commodity Exchange
Settlement Physically delivered
Contract Size 10 tons / contract
Pricing Unit 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 Electronic
Trading Hours N/A 9 - 11:30 a.m., 1:30 - 3 p.m. Beijing time
Ticker Symbol N/A C
Price Limits N/A 4% of last settlement price

References

  1. DCE History. Dalian Commodity Exchange.
  2. Grain Harvest Sets Record, But Supplies Still Tight. Worldwatch Institute.
  3. Corn Revised Contract. Dalian Commodity Exchange.