What is a corn futures contract?

Corn is the most widely grown crop across the United States. Corn futures are one of the most commonly traded agricultural futures and corn futures contracts are the most active in the oils and seeds futures market. In recent years, CME Group has introduced mini corn futures which are 1/5th the size of the standard corn futures contract.

What is a futures contract size?

Each futures contract specifies is the quantity of the product delivered for a single contract, also known as contract size. For example: 5,000 bushels of corn, 1,000 barrels of crude oil or Treasury bonds with a face value of $100,000 are all contract sizes as defined in the futures contract specification.

What is a March corn contract & a December WTI contract?

Traders refer to the March Corn contract or the December WTI contract since this point in the future is germane to the value and execution of the contract position. Depending on the contract market, delivery can be anywhere from one month to several years in the future.