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Product |
Corn |
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Trading Unit |
10MT/contract |
|
Price Quote |
CNY/MT |
|
Tick Size |
1 CNY/MT |
|
Daily Price Limit |
4% of last settlement price |
|
Contract Months |
Jan, Mar, May, July, Sep, Nov |
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Trading Hours |
9:00 - 11:30 am., 1:30 - 3:00 pm. Beijing Time, Monday - Friday |
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Last Trading Day |
10th trading day of the delivery month |
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Last Delivery Day |
2nd day after the last trading day of the delivery month |
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Deliverable Grades |
Corn at par is subject to th DCE corn delivery quality standard(F/DCE D001-2009) |
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Delivery Location |
The warehouses appointed by the DCE |
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Minimum Trading Margin |
5% of the contract value |
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Trading Fee |
No more than 3 CNY/contract |
|
Delivery Form |
Physical delivery |
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Ticker Symbol |
C |
DCE Corn Delivery Quality Standard (FC/DCE D001-2009)
1. Scope
The Standard herein dictates the quality guidelines, classification standards and inspection methods for corn delivered at the DCE.
The Standard herein is subject to delivery at par and substitutions of DCE corn futures.
2. Citation Standards
The following documents’ provisions, by means of this standard’s citation, have become this standard’s provisions. For those documents noted with dates, their amendments and revised versions have not been applied to this standard; for those without noted dates, their latest version has been applied to this standard.
GB 1353-2009 “Corn”
GB/T 20570-2006 “Corn Storage Quality Regulations”
3. Definitions
The standard definitions used are in accordance with GB 1353-2009 “Corn” and GB / T 20570-2006 “Corn Storage Quality Regulations”
4. Quality Guidelines
4.1 Quality requirements for standard corn and substitutes
|
Gram/liter |
Impurity (%) |
Moisture (%) |
Unsound Kernel (%) |
Smell and color |
|
Total |
Moldy Kernel |
|
≥650 gram/liter |
≤1.0 |
≤14.0 |
≤8.0 |
≤2.0 |
Normal |
4.2 Discount by quality difference
|
Item |
Quality Required for Standard Corn |
Quality Required of Substitutes |
Discount (CNY/MT) |
|
Grams/liter |
≥650 g/l |
≥620 and <650 |
-20 |
|
Moisture (%) |
≤14.0 |
＞14.0 and <14.5 |
0 |
|
Moldy Kernels (%) |
≤2.0 |
＞2.0 and ≤4.0 |
-25 |
4.3 Corn storage quality requirements:
Warehouse entry: suitable to be stored;
Warehouse exit: no deterioration.
4.4 Total unsound kernel rate of bulk grain exiting warehouses shall be ≤ 11%.
4.5 Sanitation inspection and foliage quarantine are subject to China's relevant standards and rules.
5. Inspection Method
Subject to GB 1353-2009 and GB/T 20570-2006 “Corn Storage Quality Regulations”
Additional Note:
The DCE is responsible for the interpretation of the standard herein.
Trading History
Corn contracts began trading at the DCE on September 22nd, 2004. Corn was previously traded at the DCE prior to 2000, but the contract was discontinued.
|
Year |
Volume* |
YOY Increase |
|
2004 |
11,656,090 |
- |
|
2005 |
43,719,464 |
275.08% |
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2006 |
135,290,072 |
209.45% |
|
2007 |
118,873,484 |
-12.13% |
|
2008 |
119,836,920 |
0.81% |
|
2009 |
33,488,176 |
-72.06% |
* Volume = # of contracts (bilateral)
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