Corn is one of the world’s most versatile and complex grains. While it’s generally thought of as a dietary staple, the market for corns extends beyond the dinner table: It’s also widely used as animal feed and in biofuels, sweeteners and other consumer products.
Contract Specifications
Ticker Symbol |
ZC |
Contract Size |
5,000 bushels (about 127 metric tons) |
Contract Months |
H, K, N, U, Z |
Trading Hours |
CME Globex: Sunday – Friday, 8:00 p.m. – 8:45 a.m. and Monday – Friday, 9:30 a.m. – 2:20 p.m. |
Last Trading Day |
The business day prior to the 15th calendar day of the contract month |
Price Quote |
U.S. dollars and cents per bushel |
Tick Size |
¼ of one cent per bushel ($12.50 per contract) |
Production
Worldwide, corn is produced on every continent except Antarctica. The U.S. accounts for about 40% of global corn production, with more than 15 billion bushels of corn each year – more than any other country. Other top producers include China, Brazil, the EU and Argentina.
Price Drivers
The price of corn is largely driven by the overall performance of the grains group. However, there are other factors that influence corn’s price movements, including:
- demand for corn-based ethanol
- the strength of the U.S. dollar
- government regulation
- emerging market demand (as incomes rise, demand for meat products increases; half of U.S. produced corn is used for livestock feed)
- extremely wet or dry weather or natural disasters
Commodities: Cotton
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