QUALITY STANDARDS
In accordance with the regulations of Rough Rice traded on Chicago Board of Trade (CBOT).
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.
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Grade |
Maximum limits of --- |
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Seeds and heat-damaged kernels (Number in 500 grams)
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Red rice and damaged kernels (singly or combined) (%) |
Chalky kernels |
Color requirements (minimum) |
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Total |
Heat-damaged kernels and objectionable seeds (singly or combined) |
Heat-damaged kernels |
In long grain rice (%) |
In medium or short grain rice (%) |
Other types (%) |
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1 |
4 |
3 |
1 |
0.5 |
1.0 |
2.0 |
1.0 |
Shall be white or creamy |
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2 |
7 |
5 |
2 |
1.5 |
2.0 |
4.0 |
2.0 |
May be slightly gray |
CONTRACT SPECIFICATION
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Trading Screen Product Name |
CBOT Rough Rice |
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Commodity Code |
ZRE |
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Contract Size |
2 000 cwt (~ 91 metric tons) / lot |
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Price Quotation |
cent / cwt |
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Trading Hours |
Monday - Friday Session 1: 07:00 A.M - 09:00 A.M Session 2: 08:30 P.M - 01:20 A.M (the next day) |
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Minimum Price Fluctuation |
0.5 cent / cwt |
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Contract Series |
January, March, May, July, September, and November |
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Delivery Registration Day |
The fifth business day prior to the First Notice Day |
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First Notice Day |
The last business day of the month prior to the contract month. |
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Last Trading Day |
The business day prior to the 15th calendar day of the contract month. |
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Margin |
As MXV required |
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Position Limit |
As MXV required |
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Price Limit |
Daily Price Limit |
Expanded Price Limit |
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$1.20/cwt |
$1.80/cwt |
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Settlement Method |
Deliverable |
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Quality Standards |
No. 1, No. 2 Rough Rice |
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