Using futures to trade the corn market can be a great financial tool when used properly.  There are two different vehicles that can be utilized depending on your preferences: corn futures and mini corn futures.  Understanding the basics of these contracts may seem tedious, but learning all of the specifications will assist you as a trader in the corn market.  Before we get into the contract specifications, let’s go over some information of futures markets

-A code for a futures or options contract is as follows: [commodity code][year][month code][strike price (equal to zero for futures)]

- The month codes are:

- An example of a code for a 2009 March electronic futures corn market contract is: ZC9H.  The same contract code but for open outcry trading is: C9H.

- The corn futures contracts are traded on the Chicago Board of Trade (now owned by the CME Group).  The open outcry corn market is open from 9:30 AM to 1:15 PM Monday through Friday.  The electronic corn market is also open from 9:30 AM to 1:15 PM, but trading starts on Sunday and has a night session from 6:00 P.M. to 6:00 A.M. (All times CST)

The corn futures contract specifications are:

- The mini futures contract for the corn market is a good tool to consider if you’re thinking about starting your trading career.  The smaller contract size give you two main advantages: smaller margin requirements and smaller tick values.  The reduced margin requirements will allow you to start your trading career with less capital, while the smaller tick values will help limit the losses you incur during the learning process.

- Note: The ticker symbols for the mini corn contract are XC for electronic and YC for open outcry.  Also, the day trading session differs slightly from the full sized futures contract.  Its hours are from 9:30 AM to 1:45 PM.  Lastly, you’ll notice there aren’t any options available on the corn market’s mini contract.

The corn mini futures contract specifications are:

Learn these contract specifications well.

(CBOT: Education: Contract Specifications)

Trading in futures and options involves a substantial degree of a risk of loss and is not suitable for all investors. Past performance is not indicative of future results.