Rough Rice

Rice futures are traded at the Chicago Board of Trade (CBOT).

Contract Specifications:

Contract Size: 2,000 hundredweight (cwt.)

Deliverable Grades: U.S. No. 2 or better long grain rough rice with a total milling yield of not less than 65% including head rice of not less than 48%. Premiums and discounts are provided for each percent of head rice over or below 55%, and for each percent of broken rice over or below 15%. No heat-damaged kernels are permitted in a 500-gram sample and no stained kernels are permitted in a 500-gram sample. A maximum of 75 lightly discolored kernels are permitted in a 500-gram sample.

Tick Size: 1/2 cent/hundredweight ($10/contract)

Price Quote: Cents/hundredweight

Contract Months: Sep, Nov, Jan, Mar, May, Jul

Last Trading Day: Business day prior to the 15th calendar day of the delivery month .

Last Delivery Day: Seventh business day following the last trading day of the month.

Trading Hours

Electronic: 6:00 p.m. – 6:00 a.m. and 9:30 a.m. – 1:15 p.m. Central Time, Sun.-Fri.

Open Auction: 9:30 a.m. – 1:15 p.m. Central Time, Mon-Fri.

Trading in expiring contracts closes at noon on the last trading day.

Ticker Symbols

Open Auction: RR

Electronic: ZR

Daily Price Limit: Fifty cents ($0.50) per hundredweight ($1,000/contract) above or below the previous day’s settlement price. No limit in the spot month (limits are lifted beginning on First Position Day).