CBOT Corn (Chicago, US)
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- international buyers are increasingly on the market again
- lowered corn forecast for Argentina
- Weather in Brazil
- Export competition from Ukraine and Russia
- high stocks in Russia
- increased global corn harvest forecast
- higher US wheat harvest expected in 2024/25
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Copyright © 2018. All CME market data is provided by Barchart Solutions.
Futures: At least a 10-minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.
Specification
Further specifications
Through December 2018: #2 Yellow at contract Price, #1 Yellow at a 1.5 cent/bushel premium, #3 Yellow at a 1.5 cent/bushel discount. As of March 2019: #2 Yellow at contract Price, #1 Yellow at a 1.5 cent/bushel premium, #3 Yellow at a discount between 2 and 4 cents/bushel depending on broken corn and foreign material and damage grade factors.
The CBOT (Chicago Board of Trade) is one of the oldest financial and commodity futures exchanges based in Chicago. In 2007, the CME (Chicago Mercantile Exchange) and the CBOT were merged to form the joint CME Group Inc. The CBOT offers both electronic trading and open outcry trading on the trading floor.
Futures are available on a whole range of different underlying assets, such as corn. It is important to note that all futures are traded on futures exchanges. The exchange determines exactly what a futures contract looks like.
It is important to note that virtually all futures contracts are not physically delivered, but are generally settled by trading the offsetting position before the contract expires. Most traders only use futures to hedge the prices they pay or receive on the local market at world market prices and are not interested in physical delivery at the location specified by the exchange.
Corn is the most widely grown grain in the world. The demand for maize has risen sharply in recent years. Corn is an important resource for the production of biofuels. The most important corn-growing countries are the USA, China, Brazil and the EU. Corn is an important raw material for the production of starch, biofuels, animal feed and food. Nowadays, even compostable products made from corn flour are replacing plastic products such as disposable tableware.
Both wheat and grain maize are traded on the world's most important stock exchanges. The most important trading centers for corn are the CBoT (Chicago Board of Trade) and Euronext (MATIF) in Paris. In Chicago, corn is traded in bushels and a contract there comprises 5,000 bushels (approx. 127 tons "t").
The futures exchanges make the markets more transparent and are the first to show price developments. The effects of these price developments can be considerable. It is therefore important to be informed about the price development of agricultural commodities and to be aware of the effects. Futures exchanges support sustainable solutions and help to secure the supply of food and minimize the impact of price fluctuations.
