Corn Futures
What are corn futures?
Corn is the most widely grown crop across the United States. Corn futures are one of the most commonly traded agricultural futures and one of the most active in the oils and seeds futures market. CME Group provides access to E-mini Corn futures contracts and Micro Corn futures contracts, which are 1/5th and 1/10th the size of the standard corn futures contract, respectively.
How to trade corn futures
Corn futures, E-mini Corn futures, and Micro Corn futures can be traded on the thinkorswim® trading platforms. In addition to our advanced trading platforms, you also get access to market research, real-time corn futures quotes, specialized tools, and educational resources to support your trading.
Market price
When it comes to futures, the price is decided by the commodity itself, and corn futures are no different. As an agricultural future, the prices of corn futures may be affected by weather patterns and events, which play a role in crop yield. Subsidies for farmers, international trade policies, and demand for other crops like soybean and wheat may also influence the price of corn futures. Keep these factors in mind when speculating on futures prices.
Contract specifications
| | Symbol | Options Tradable on thinkorswim®2 | Multiplier | Minimum Tick Size and Value | Settlement | Trading Days/Hours |
|---|---|---|---|---|---|---|
| Corn | /ZC | Yes | $50 | 0.25 = $12.50 | Physical1 | 8 p.m. ET Sunday to 8:45 a.m. Friday and 9:30 a.m. Monday to 2:20 p.m. Friday |
| E-mini Corn | /XC | No | $10 | 0.125 = $1.25 | Physical1 | 8 p.m. ET Sunday to 8:45 a.m. Friday and 9:30 a.m. Monday to 2:20 p.m. Friday |
|
Micro Corn
|
/MZC
|
No
|
$5
|
0.50 = $2.50
|
Cash
|
8 p.m. ET Sunday to 8:45 a.m. Friday and 9:30 a.m. Monday to 2:20 p.m. Friday |
Corn Futures FAQs
Corn futures might be used to diversify a portfolio or manage exposure to agricultural markets. Traders also use them to speculate on price changes driven by factors like weather, crop output, global demand, ethanol production, policy changes, and the value of the U.S. dollar. Options on corn futures are also available.
Corn futures offer extended trading hours and leverage, which can increase flexibility. That same leverage also increases risk. Losses can exceed your initial investment, and these products are not suitable for all investors.
Standard and E-mini Corn futures are physically settled, while Micro Corn futures are cash settled at the exchange level. Remember, physical delivery is not permitted through Schwab. Clients must close or roll their positions prior to expiration.
E-mini Corn futures are smaller contracts at 1/5 the size of standard corn futures. Micro Corn futures are even smaller, being just 1/10 the size of the full contract. Both require less capital and can offer more flexibility for managing risk or testing strategies.
Ready to trade futures?
Not yet a Schwab client?
Open a brokerage account online, then go to the Getting Started page for next steps.
Already a client?
Use your eligible brokerage account to apply for a futures trading account.