CORN FUTURES

Corn Futures

Corn Futures
Unit of trading

Fifty tonnes

Delivery period

Any business day from the last trading day to the end of the specified delivery month

Delivery months

January, March, June, August and November such that ten delivery months are available for trading

Quotation

Euros and Euro cents per tonne

Minimum price movement (tick size and value)

25 euro cents per tonne (€12.50)

Last trading day

18:30 on the fifth calendar day of the delivery month (if not a business day, then the following business day)

Last update
Mon, 16/04/2012
Trading Hours

10:45 – 18:30 Paris time

Trading platform

Universal Trading Platform (UTP)

Algorithm

Central order book applies a price-time trading algorithm, with priority given to the first order at the best price

Wholesale service

Against Actuals, Exchange for Swaps

Clearing

LCH SA.

Notice day/Tender day

The first business day following the last trading day

Origins tenderable

Corn from any EU origin

Price basis

Euro and euro cents per tonne, in an approved silo in Bayonne (silo Maisica), Blaye (silo Semabla), Bordeaux (silos d’Aquitaine Invivo, Splb/Sobtran), La Rochelle Pallice (silos Sica Atlantique, Socomac), Nantes (silo Sonastock)

Quality

Yellow and/or red corn, of sound, fair and merchantable quality of the following standard:
- Moisture basis 15%, maximum 15.5%
- Broken grain basis 4%, maximum 10%
- Sprouted grain basis 2.5%, maximum 6%
- Grain admixture basis 4%, maximum 5%
- Other impurities basis 1%, maximum 3%


The combined element of broken grain, sprouted grain, admixture grain and other impurities must not exceed 12% Discounts and additional requirements apply in conformity with Incograin contract n° 23 and Technical Addendum n°5 “Mycotoxins not to exceed, at the time of delivery, the maximum levels specified under EU legislation in force with respect unprocessed cereals intended for use in feed products.”


The underlying is said to be conventional corn, which is defined as a product containing no genetically modified organisms, or containing genetically modified organisms whose presence is adventitious or technically unavoidable, in accordance with requirements in force under EU Regulations (1) (1)EC regulation n° 1829/2003 of the European Parliament and the Council of the 22 September 2003 on genetically modified food and feed (OJEU 18-10-2003)

Euronext Derivatives Market: Paris

 

Unless otherwise indicated, all times are Paris times.

Delivery limits are set by LCH S.A. and are published 80 days before the last trading day and are applicable for 12 days before the last trading day of the delivery month. Please refer to the LCH