This cereal has been a staple for human consumption for thousands of years and is now an integral part of the diet of nearly three billion people worldwide. From its humble origins in ancient Asian cultures, rice cultivation spread across the continents. Many international exports of rice are confined to the hulled and polished grains; however, the CME Group’s “rough” rice contract - to which the specifications will refer – encompasses “paddy” rice, which has not had the husks and bran removed.
Contract Size: 2,000 hundredweights (CWT) (~ 91 Metric Tons)
Price Quote & Tick Size: US Cents per hundredweight; minimum tick size is 1/2 cent per hundredweight ($10.00 per contract)
Contract Months: January (F), March (H), May (K), July (N), September (U) & November (X)
Trading Specs: Open outcry trading is conducted from 9:30 a.m. - 1:15 p.m. CT Monday – Friday. Electronic trading is conducted via the CME Globex® trading platform from 6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday - Friday
Daily Price Limit: $0.50 per hundredweight expandable to $0.75 and then to $1.15 when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month.
Trading Symbols: ZR, RR