CME Group Rough Rice
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| Rough Rice Futures | ||
|---|---|---|
| Contract Unit | 2,000 hundredweights (CWT) (~ 91 Metric Tons) | |
| Price Quotation | Cents per hundredweight | |
| Trading Hours | CME Globex: | Monday - Friday: 8:30 a.m. - 1:20 p.m. CT
Pre-Open: Monday - Friday: 8:00 a.m. - 8:30 a.m. CT |
| CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | |
| Minimum Price Fluctuation | 1/2 cent per hundredweight = $10.00 | |
| Product Code | CME Globex: ZR
CME ClearPort: 14 Clearing: 14 | |
| Listed Contracts | 7 monthly contracts of Jan, Mar, May, Jul, Sep and Nov | |
| Settlement Method | Deliverable | |
| Termination of Trading | Trading terminates on the business day prior to the 15th calendar day of the contract month. | |
| Settlement Procedures | Rough Rice Settlement Procedures | |
| Position Limts | CBOT Position Limits | |
| Exchange Rulebook | CBOT 17 | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| Vendor Codes | Quote Vendor Symbols Listing | |
| Last Delivery Date | Seventh business day following the last trading day of the month. | |
| Grade and Quaity | U.S. No. 2 or better long grain rough rice with a total milling yield of not less than 65% including head rice of not less than 48%. Premiums and discounts are provided for each percent of head rice over or below 55%, and for each percent of broken rice over or below 15%. No heat-damaged kernels are permitted in a 500-gram sample and no stained kernels are permitted in a 500-gram sample. A maximum of 75 lightly discolored kernels are permitted in a 500-gram sample. | |
| Rough Rice Options | ||
|---|---|---|
| Contract Unit | One Rough Rice futures contract of 2,000 hundredweight (cwt.) | |
| Minimum Price Fluctuation | 1/4 of one cent per hundredweight = $5.00 | |
| Trading Hours | CME Globex: | Sunday – Thursday, 7:00 p.m. – 9:00 p.m. CT and
Monday – Friday, 8:30 a.m. – 1:20 p.m. CT |
| Open Outcry: | Monday – Friday, 8:30 a.m. – 1:15 p.m. CT with Post session until 1:20 p.m. CT immediately following the close | |
| CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | |
| Product Code | CME Globex: OZR
CME ClearPort: 14 Open Outcry: Put: RRP Call: RRC Clearing: 14 | |
| Listed Contracts | Monthly contracts listed for 2 consecutive months, 1 month of Mar and 2 months of May, Jul, Sep, Nov and Jan | |
| Termination of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. | |
| Position Limits | CBOT Position Limits | |
| Exchange Rulebook | CBOT 17A | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| Vendor Codes | Quote Vendor Symbols Listing | |
| Strike Price Listing Procedures | 20 cents per hundredweight. More details on strike price intervals are outlined in Rule 17A01.E. | |
| Exercise Style | The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised. | |
| Settlement Method | Deliverable | |
| Underlying | Rough Rice Futures | |