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MINI CORN
CBOT Mini-Corn
CONTRACT SPECIFICATION
| Trading Screen Product Name | CBOT Mini-Corn | ||||
| Commodity Code | XC | ||||
| Contract Size | 1 000 bushels/lot | ||||
| Price Quotation | cent / bushel | ||||
| Trading Hours | Monday-Friday Session 1: 08:00 A.M - 08:45 P.M Session 2: 09:30 P.M - 02:20 A.M (the next day) |
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| Minimum Price Fluctuation | 0.125 cent / bushel | ||||
| Contract Series | March, May, July, September, and December | ||||
| Delivery Registration Day | The fifth business day prior to the First Notice Day | ||||
| First Notice Day | The last business day of the month prior to the contract month. | ||||
| Last Trading Day | The business day prior to the 15th calendar day of the contract month. | ||||
| Margin | As MXV required | ||||
| Position Limit | As MXV required | ||||
| Price Limit |
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| Settlement Method | Deliverable | ||||
| Quality Standards | No. 1, No. 2, No. 3 Corn |
QUALITY STANDARDS
In accordance with the regulations of Corn traded on Chicago Board of Trade (CBOT).
Product infomation
Product introduction
Maize: produced 41 billion bushels in crop year 2017/2018 but traded 11 times more in the derivatives market (CBOT), Maize is the preferred trading product of commodity traders worldwide
In Vietnam, maize is a familiar food crop and also a commodity traded with high liquidity
In Vietnam, maize is a familiar food crop and also a commodity traded with high liquidity
Characteristics
Maize is the most planted food crop in the Americas alone, the production is about 360 million tons per year. (The United States is also the country with the highest corn production in the world.) Other top producing countries include China, Brazil, Mexico, Argentina, India, South Africa, Italy.. Maize is also widely cultivated around the world with an annual yield higher than any other food crop. .
Sowing and harvesting
The sowing time is usually spring in temperate countries. The long and short growth of the tree varies depending on the variety and environmental conditions, ranging from 90 - 160 days from planting to harvesting. The sowing period usually starts from March to May; Harvest from August to November.
Product
Corn is usually grown for its seeds. The corn kernels are about the size of a pea and adhere in relatively even rows around a white cob to create the cob. Each cob is about 10-25 centimeters (4-10 inches) long and contains about 200-400 seeds. Corn kernels are usually yellow, black, white, and red (depending on the variety). When ground into flour, corn produces more flour and less bran than wheat
Corn kernels are an important food for humans and the main raw material for the production of many animal feeds. In addition, corn also has syrup, alcohol, ethanol ...
Corn kernels are an important food for humans and the main raw material for the production of many animal feeds. In addition, corn also has syrup, alcohol, ethanol ...
The situation of corn production and import-export in the world
According to USDA, in the 2018-19 crop year, the world produced about 43,290 bushels of corn (equivalent to 1100 million tons). In which, the United States is still the leading producer with a total output of up to 14,420 bushels (equivalent to 360 million tons). The United States is also a leading exporting country
China is the country ranked 2nd in maize production. However, China's corn production is mainly for domestic demand.
Argentina and Ukraine are also the two leading corn producers and exporters in the world. Although the EU and Mexico regions produce relatively large volumes, they still import corn.
Southeast Asia, including Vietnam, mainly imports maize for the needs of animal feed. In East Asia, Japan and South Korea are also two major corn importing countries.
China is the country ranked 2nd in maize production. However, China's corn production is mainly for domestic demand.
Argentina and Ukraine are also the two leading corn producers and exporters in the world. Although the EU and Mexico regions produce relatively large volumes, they still import corn.
Southeast Asia, including Vietnam, mainly imports maize for the needs of animal feed. In East Asia, Japan and South Korea are also two major corn importing countries.
Factors that greatly affect the corn market:
* Weather Events : Climate weather around the world, especially in localcultivation regions may affect supply
* USDA's World Agricultural Supply and Demand Estimates (WASDE) report makes a comprehensive monthly forecast, which often turns the corn market in an unexpected direction
* The USDA Outlook, released in March, details how many and what types of crops U.S. farmers plan to grow.
* Grain Stocks Reports, issued four times a year by the National Agricultural Statistics Service (NASS), which provide up-to-date information on corn stocks by state and by location ( storage on or off the farm)
* Situation of biomaterial production in exporting countries
* Other Reports on U.S. Agricultural Exports
* Trade, political, bilateral, and multilateral events related to agriculture
* USDA's World Agricultural Supply and Demand Estimates (WASDE) report makes a comprehensive monthly forecast, which often turns the corn market in an unexpected direction
* The USDA Outlook, released in March, details how many and what types of crops U.S. farmers plan to grow.
* Grain Stocks Reports, issued four times a year by the National Agricultural Statistics Service (NASS), which provide up-to-date information on corn stocks by state and by location ( storage on or off the farm)
* Situation of biomaterial production in exporting countries
* Other Reports on U.S. Agricultural Exports
* Trade, political, bilateral, and multilateral events related to agriculture
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